#比特币宏观表现 Recently, I came across an analysis claiming that Bitcoin will underperform gold and the US stock market by 2025. I was completely stunned😅

After looking into the reasons carefully, I realized it's not that Bitcoin isn't good, but that current energy is being diverted to AI. Imagine, instead of using electricity at mining farms to mine Bitcoin, it's now used to train large models—because the economic value generated by large models is higher! It's like all the money is chasing the place that can create new wealth.

And why is gold so strong? It turns out it's because of global instability; everyone wants something they can hold in their hand that preserves value without needing the internet. But Bitcoin still relies on the internet and trading systems. In extreme uncertainty, gold's "atomic-level certainty" outperforms Bitcoin's "code consensus."

There's a point in this article I particularly agree with—Bitcoin isn't disproven; it's being re-priced. It is now "bearing the cost of time," waiting for AI hype to cool down and capital to flow back, so it can return to its true role.

So now I'm wondering, does this mean I should adjust my strategy at this stage? Or continue holding long-term, waiting for that moment of reversal? Can any experts explain how to understand this "attractor reconfiguration"? I feel like my knowledge is still a bit behind🤔