If BTC is the “gold” in the Crypto world.
ETH is the “U.S. Treasury bonds” in the Crypto world.
So the real question is here.
Who creates credit?
In the real world, why can the dollar become the global currency?
It’s not because of the dollar itself, but because behind the dollar there is a massive credit system. Banks, bonds, loans, insurance, derivatives, payments... all of these together form the dollar’s financial system.
If Crypto is to become a true financial world in the future, it too will need its own credit system.
I’m increasingly convinced that BTC creates asset credit. Because its supply is fixed, it’s decentralized, and its security is the highest—so people are willing to hold it long-term.
ETH creates financial credit. Because lending, collateral, liquidation, Staking, and almost all on-chain financial activities are built on the security of ETH.
But what truly determines how far Crypto can go may not be BTC or ETH, but rather how much real credit future on-chain systems can create.
Here, “credit” doesn’t mean printing money out of thin air. It means real-world assets, real-world cash flows, real-world businesses, real-estate, bonds—i.e., the RWA (Real World Assets) that everyone has been discussing.
If in the future more and more real-world assets begin to move on-chain, then the roles of BTC and ETH will become even more clearly defined.
BTC is responsible for becoming a global digital reserve asset.
ETH is responsible for running the entire financial system.
RWA is responsible for bringing real-world cash flows into Crypto.
I’m increasingly convinced that Crypto’s true endgame isn’t tokenizing everything, but rather having an ever-growing number of real-world assets actively entering the blockchain.
By then, market discussions probably won’t be about “how much BTC is up today” or “how much Gas ETH burned again,” but rather:
How many real-world assets have started relying on this financial system of BTC and ETH today.
BTC reserves value.
ETH runs finance.
RWA creates real cash flow.
All three are indispensable. $BTC
#crypto
ETH is the “U.S. Treasury bonds” in the Crypto world.
So the real question is here.
Who creates credit?
In the real world, why can the dollar become the global currency?
It’s not because of the dollar itself, but because behind the dollar there is a massive credit system. Banks, bonds, loans, insurance, derivatives, payments... all of these together form the dollar’s financial system.
If Crypto is to become a true financial world in the future, it too will need its own credit system.
I’m increasingly convinced that BTC creates asset credit. Because its supply is fixed, it’s decentralized, and its security is the highest—so people are willing to hold it long-term.
ETH creates financial credit. Because lending, collateral, liquidation, Staking, and almost all on-chain financial activities are built on the security of ETH.
But what truly determines how far Crypto can go may not be BTC or ETH, but rather how much real credit future on-chain systems can create.
Here, “credit” doesn’t mean printing money out of thin air. It means real-world assets, real-world cash flows, real-world businesses, real-estate, bonds—i.e., the RWA (Real World Assets) that everyone has been discussing.
If in the future more and more real-world assets begin to move on-chain, then the roles of BTC and ETH will become even more clearly defined.
BTC is responsible for becoming a global digital reserve asset.
ETH is responsible for running the entire financial system.
RWA is responsible for bringing real-world cash flows into Crypto.
I’m increasingly convinced that Crypto’s true endgame isn’t tokenizing everything, but rather having an ever-growing number of real-world assets actively entering the blockchain.
By then, market discussions probably won’t be about “how much BTC is up today” or “how much Gas ETH burned again,” but rather:
How many real-world assets have started relying on this financial system of BTC and ETH today.
BTC reserves value.
ETH runs finance.
RWA creates real cash flow.
All three are indispensable. $BTC
#crypto
