Silver's performance is enough to redefine perceptions. Looking back to early 2025, Bitcoin's market capitalization was still slightly ahead of silver; now, the situation has reversed—silver has surpassed many assets and, following gold, has become the market's new favorite. Behind this shift, it reflects not only fluctuations in market sentiment but also a profound change in global asset allocation logic.

The US dollar credit system is quietly loosening. From the geopolitical maneuvers over energy competition, the US strategy adjustments toward energy-rich countries like Venezuela and Iran all point in the same direction—finding a new value anchor for the dollar. The inclusion of Bitcoin into strategic reserves is a natural extension of this logic. What is the deeper purpose of these measures? To find new support for the dollar, allowing US dollar hegemony to continue, and thereby maintain global extraction capabilities and the power of unlimited money printing.

From a long-term perspective, these chosen anchors—whether precious metals or cryptocurrencies—will ultimately rise with monetary easing. Meanwhile, the endless printing of US dollar bills ironically makes them the least valuable assets. This logical cycle is worth deep reflection for all asset allocators.