The anchor of BTC has never been the US dollar. It's just that now people exchange US dollars for BTC, so they are used to pricing in US dollars. The anchor of BTC is energy. This energy ultimately comes from the stars in the universe.
The way BTC anchors energy is completely different from the way the US dollar anchored gold back then.
When the US dollar anchored gold, it was to store gold in warehouses and issue an equal amount of US dollars based on it. The problem is that when gold is in short supply or the US dollar is in excess, the balance sheet becomes a lie. In other words, accounting can't restrain human desires and power at all, and the balance sheet is bound to become a lie. The end of credit endorsement must be credit bankruptcy. When President Nixon unilaterally announced the suspension of the exchange of US dollars and gold in 1971, the US dollar embarked on the road of credit bankruptcy and left the dust behind.
The way BTC anchors energy is not to save energy, but to consume energy. In this way, energy is returned to the universe, and negative entropy is injected into BTC. There is no balance sheet here, no credit endorsement, and there is no credit bankruptcy problem at all.
So, in essence, when we talk about the rise of BTC, we are actually talking about the fall of fiat currencies and other assets (such as gold).
From the perspective of BTC standard, BTC has never risen. 1 BTC is always 1 BTC. It’s just that the number of BTC that can be exchanged for 1 US dollar is getting smaller and smaller, and the number of BTC that can be exchanged for 1 ounce of gold is also getting smaller and smaller.
