Japan's latest issuance of 29.6 trillion yen in government bonds has set a new record, with this expenditure already accounting for 260% of its GDP— the highest level globally. On the surface, it appears to be economic stimulus, but in reality, it's like continuing to inflate a balloon that's about to burst; everyone knows it will eventually explode, just not when.

This phenomenon warrants deep reflection. When traditional central bank money-printing methods begin to fail, those who truly understand the industry have already seen a clear fact: future wealth growth will no longer rely on central bank liquidity releases but will depend on market consensus and the ecosystem's own ability to generate value. Moving from passive external blood transfusions to active internal blood production—that is the underlying logic for making money in 2025.

In the wave of global liquidity expansion, what kind of assets can truly combat inflation? My observation indicates that the answer points to a comprehensive reflection across three dimensions: first is scarcity, with supply naturally limited; second is output capability, able to continuously create value; third is consensus foundation, with a sufficiently broad user base and trust. Asset classes that meet these three points are quietly growing, driven by spontaneous participation of global network nodes rather than debt.

In reality, many people are still struggling with traditional asset allocation, but some tracks within the crypto ecosystem are already building a new value system. Rather than passively avoiding liquidity shocks, it’s better to actively participate in ecosystems with genuine value creation mechanisms. What is your judgment? Where will this wave of global liquidity ultimately flow? Which tracks have the most promising intrinsic growth logic?