Trump’s latest national security strategy has been released, and its core can be summed up in two words: tough stance. Energy must take the lead, and diplomacy should be assertive. As soon as this came out, the market immediately began to speculate—what does this mean for the broader environment and those safe-haven assets?

To put it simply, here’s the logic: if this set of policies really pushes up geopolitical risks and inflation expectations, the traditional safe-haven king, gold, will probably become popular again. After all, buying gold in turbulent times has always made sense throughout history.

But what about Bitcoin? That’s where it gets interesting. As an emerging asset, its response depends entirely on how the market perceives it—is it seen as a high-risk tech stock, or is its identity as "digital gold" recognized? In the former case, it might drop first when risks hit; in the latter, it might take off alongside gold.

Now, the key is which way market sentiment swings. After the policies are implemented, how will capital flow? Will investors really treat Bitcoin as a hedging tool? The answers to these questions may be more important than the policies themselves.