Whether we look at SpaceX's formal acquisition of xAI or the divergence between gold and silver and the crypto, we must face one point: finance should serve the real economy; AI only has value when it is combined with industry to improve human productivity; gold and silver also have a physical basis, satisfying the needs of ordinary people for jewelry and storage, and playing a role in industry. As the crypto transitions from its early, unregulated growth phase to its mid-stage, it needs to develop new narratives to regain upward momentum and create more room for growth. Otherwise, it may truly degenerate into a niche hobby like stamp collecting. In short, the crypto was born out of the major cycle of shifting from the real economy to the virtual economy, and in the current cycle of shifting from the virtual economy to the real economy, it needs a radical transformation to be reborn.

x.com/qinbafrank/status/199756...… Crypto is a production relation, a new paradigm of capital. Its opportunity lies in the on-chaining of real assets and its integration with AI. The tweet I quoted also contains an earlier, more outrageous argument.