I’m bullish on Crypto long-term, especially on Ethereum’s growth potential, while also recognizing Bitcoin’s long-term value as a strategic allocation.
What supports this judgment are several converging forces: the U.S. wants to expand the use of the dollar, financial institutions are experimenting with asset tokenization on-chain, companies need easier cross-border payments, and AI and machines may create new demands for automated trading.
If more and more economic activity moves into digital networks, and the infrastructure that records rights, executes transactions, and completes settlement can handle it, then there’s an opportunity to capture a larger market.
Ethereum is competing for this position. My bullish logic needs to unfold step by step along the lines of: where the demand comes from, why blockchain is chosen, and how value is transmitted to ETH.
First, the U.S. is pushing legally compliant USD stablecoins, with clear strategic motivations. On January 23, 2025, a U.S. executive order will promote the global development of legally compliant USD stablecoins, explicitly setting them as a policy direction for maintaining U.S. dollar sovereignty. This is already a public policy rather than speculation from within the crypto community.
Source: White House executive order
The global influence of the U.S. dollar depends on worldwide demand for holding, pricing, payments, and financing. Stablecoins provide new digital rails for these needs.
For businesses and individuals whose access to banking services is insufficient, a digital financial account that can be used legally may reduce some of the hurdles to accessing the USD, receiving payments, and paying suppliers.
If issuers support issuance with assets such as short-term U.S. Treasuries, stablecoin growth could further expand related reserve demand. But some of that capital is merely migrating from bank deposits or money market funds, so it can’t all be counted as incremental U.S. Treasury buying.
My view is that the U.S. has incentives to have more global digital transactions revolve around the U.S. dollar, while still maintaining control mechanisms such as issuance, redemption, anti-money laundering, and sanctions.
Stablecoins have the opportunity to become a distribution channel for the U.S. dollar on the internet.
One step further is RWA—tokenization of real-world assets. Users enter USD payments through stablecoins, and then, based on eligibility, access tokenized U.S. Treasuries, funds, or stock products; the link between payment and investment could become tighter.
This could expand the global reach of USD assets, but it won’t automatically remove requirements for securities access or foreign-exchange rules. Including residents of mainland China, investors in different places still need to comply with applicable regulations; holding tokenized stocks doesn’t necessarily mean gaining full shareholder rights.
What I like is the expansion of access to U.S. dollar finance under regulatory conditions. If Ethereum captures some portion of issuance, trading, and settlement, it could have the chance to serve a broader USD economy.
Second, debt, inflation, and geopolitical risk are making people pay more attention to asset selection and financial rails. In its April 2026 (Fiscal Monitor) report, the IMF said that in 2025 global public debt is close to 94% of GDP and is expected to reach 100% by 2029; defense spending, social spending, and interest burdens are increasing fiscal pressure.
Source: IMF
High debt doesn’t mean the government will necessarily ease liquidity immediately. But it means fiscal and monetary policy will face complex trade-offs for a long time, and savers will keep paying attention to purchasing power.
This gives Bitcoin a compelling long-term research thesis: transparent supply rules, independently verifiable properties, and no reliance on a single issuing institution’s redemption promise.
For those who want to reduce risk from fluctuations in their home currency’s exchange rate, USD stablecoins may better fit everyday settlement and payment needs. They still carry risks related to USD inflation, issuers, and redemption, but they provide another way to access USD value.
War and migration also make asset accessibility and portability more important. Under legal and communications-available conditions, self-custody digital assets can add another channel for holding and transferring.
Here, time horizons must be clearly distinguished: war may first trigger selling; inflation may drive rate hikes; both BTC and ETH could fall as a result. Long-term use cases and short-term prices can temporarily diverge.
What I’m bullish on is that demand for more asset choices and more reliable payment rails will continue to exist. BTC and on-chain finance can each pursue different portions of that demand.
Third, payments and asset tokenization already have verifiable commercial progress. Compared with loosely saying “institutions are moving in,” the following matters are more worth watching:
Stripe: In 2025, it announced stablecoin-enabled financial account capabilities for companies in 101 countries that previously were not supported, with service limited by region and eligibility. This shows stablecoins are moving into corporate treasury and cash-management scenarios.
Source: Stripe
Visa: In April 2026, disclosed that stablecoin settlement pilots reached an annualized operating scale of about $7 billion, supporting nine blockchains including Ethereum. This is an annualized figure, not the full-year settlement volume already completed.
Source: Visa
BlackRock BUIDL: its first tokenized fund was initially launched on Ethereum. This shows that real-world financial products have started to connect to public blockchains.
Source: Securitize
BlackRock ETHB: the iShares Staked Ethereum Trust ETF has already provided a route to access ETH price exposure and a portion of staking rewards via traditional brokerage/securities accounts. This lowers the operational barrier for some investors who would otherwise have to directly handle wallets and custody.
Source: BlackRock
These cases map to payment, asset issuance, and investment channels, respectively.
They can’t prove that on-chain finance is already mature, but they do show that commercial exploration is moving forward along multiple directions. Visa’s multi-chain approach also indicates that Ethereum needs to win business in competitive markets.
I’m especially bullish on Ethereum because once capital flows on-chain, it still needs trading, investing, staking, lending/borrowing, and risk management.
The appeal of a financial network depends on whether these services can connect effectively. Only when development tools, asset standards, custodians, counterparties, and liquidity are gradually connected will there be a chance to form a reason for sustained use.
My investment view is that Ethereum is in a condition to compete for an important position in this coordination network. It doesn’t have to cover all financial activities; as long as it maintains a significant share in a large enough market, the opportunity is worth taking seriously.
Fourth, ETH’s key is converting network usage into asset demand. If you like the Ethereum ecosystem, you also need to answer how token holders benefit.
ETH has several real use cases: paying mainnet fees, participating in maintaining network security via staking, and serving as collateral and a liquidity asset in on-chain finance. The base fee of the mainnet is burned; net supply depends on the combined changes of burning and issuance.
Source: Official Ethereum documentation
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Fee mechanism
The transmission pathway I’m looking for is:
More real-world businesses adopt Ethereum and its ecosystem, creating ongoing needs for settlement, security, and collateral—thereby expanding ETH’s economic use cases.
This path is more specific than “assets go on-chain, so ETH must rally,” and it also requires data verification.
ETH isn’t equity of the entire ecosystem, so it can’t automatically share profits from all applications. L2s lower fees, which helps attract users, but may also leave some revenue on other layers; staking rewards carry risks and costs, and staked ETH is not the same as permanently exiting circulation.
Therefore, I will keep monitoring the economic links between real usage, the mainnet and L2s, ETH’s staking demand, and changes in issuance and burn.
My bet is that ETH will gradually become the core asset that more and more on-chain businesses are willing to use and hold.
Fifth, the AI and machine economy could expand demand for programmable payments. This layer already has technological tools, but large-scale commercial outcomes still need verification.
Open payment standards like x402 already support software performing programmatic payments around APIs and content access, and also list small payments between AI agents and machines as application scenarios.
Source: x402 official documentation
Imagine an enterprise-authorized AI: it buys data within budget, calls models, rents compute power, and then delivers results. In this process, there will be many small-amount, high-frequency transactions executed by software.
Stablecoins and smart contracts are candidate tools for serving this kind of demand. They still need to compete with bank payments and platform accounts, and the business will not naturally choose Ethereum.
But this is how I see it: the future blockchain user base may include large amounts of software running under human authorization.
If we push the logic further, there are several related scenarios:
Autonomous vehicles and robots pay for charging, parking, communications, and maintenance according to authorization.
Distributed energy devices complete multi-party accounting and settlement based on trusted metering.
Data and digital content are charged per confirmed licensed condition and automatically split and allocated.
Cross-institution research collaboration: milestones are funded and benefits allocated according to legal contracts and reviewed milestones.
All these ideas share a single need: making it easier for authorized rules to connect and execute with funds.
On-chain records can’t, by themselves, prove that external data is real, nor can they magically create copyrights and patents. Trusted data, legal rights, and responsible entities are still necessary.
If the automated economy keeps expanding, programmable settlement may find more opportunities to prove itself. This is the long-term growth potential I want to keep for Ethereum.
Sixth, the space economy offers longer-term imagination, but it starts with real connectivity. Blockstream Satellite has already broadcast Bitcoin blockchain data via satellite, allowing users with compatible devices within coverage to receive and sync blocks, reducing reliance on local ground-based internet. Sending transactions still requires an additional upstream channel.
Source: Blockstream
This strengthens the receiving resilience of the Bitcoin network, but it hasn’t yet proven that “interstellar finance” has arrived.
A more distant business vision is for different companies to buy satellite bandwidth, lease ground stations, trade on remotely sensed data, or provide on-orbit services. Cross-operator collaboration may require identity, quoting, delivery verification, and settlement.
Some businesses can pre-fund first; after the service result is verified, payment is made according to the contract. Devices don’t have to directly run public blockchain nodes, and transactions can also be aggregated and processed by on-the-ground systems.
Latency and interruptions in deep-space communications determine that current real-time financial systems can’t simply be carried over as-is. Ethereum’s role in space commerce today is still a forward-looking assumption.
But from machines to satellites, these scenarios raise the same research question: how devices and software belonging to different institutions can complete transactions under mutually recognized rules.
They are additional upstream possibilities, which can’t be booked as revenue today. Long-term investing is still worth watching where these needs will go.
Connecting these clues makes my judgment very clear.
The U.S. promotes legally compliant USD stablecoins, giving the industry policy incentives; corporate payments/receipts and asset tokenization create real demand; Ethereum competes for the settlement, security, and financial coordination needed for these activities; and AI, machines, and space commerce may continue to expand future demand.
Bitcoin takes another route: relying on verifiable supply rules, liquidity, and network effects to win a larger share of long-term asset allocation. It doesn’t need to replicate all of Ethereum’s applications.
My reasons for being optimistic about the two are therefore different: BTC’s opportunity is that more people will hold it long-term; ETH’s opportunity is that it will be continuously used by more economic activities.
This optimism also comes with clear failure conditions: if demand for public chains doesn’t grow for a long time, Ethereum keeps losing important business, or the ecosystem’s prosperity can never translate into demand for ETH—then the bullish case would need to be adjusted.
Industry development can create opportunities, but valuation, entry price, and competitive landscape still determine investment outcomes.
Today, stablecoins, institutional products, and asset tokenization have already provided some evidence. In the future, what’s worth striving for is broader-scale real usage.
I’m willing to bet on Ethereum’s next decade, because it has the opportunity to help solve an increasingly important problem: when people, enterprises, and machines conduct business across a global network, how assets, rules, and payments can be connected more efficiently.
This process is worth patience—and worth continuous verification.