Why invest in US stocks now instead of cryptocurrencies? "This phenomenon is normal; I also use this method myself." The reason is simple: funds will flow to where the returns are most certain and the liquidity is deepest. The US stock market's AI theme currently has three things that crypto cannot provide for the time being—cash flow (NVIDIA's quarterly revenue of $81.6 billion), institutional pricing (BlackRock and Fidelity are buying in), and a clear narrative (computing power, storage, and optical communication, each layer is clear). This round of crypto projects is missing these three things: apart from BTC, ETH, and a few stablecoin issuers, most projects lack real cash flow. Institutional funds, after entering the BTC market through ETFs, have shown absolutely no interest in altcoins; narratives have shifted from DeFi summer, NFTs, to inscriptions, but none have been able to withstand the cycle. Therefore, the flow of money into US stocks reflects market efficiency, not that crypto is dead, but that the true narrative for crypto is not yet ready. I am grateful for and have a strong emotional connection to Crypto, as it is the place that made me who I am today. I have also tried to invest in and support capable and idealistic teams, hoping to solve the pain points of the crypto. Unfortunately, many cases have been disappointing. The overall environment is characterized by difficulties in project financing and a lack of sound exit mechanisms. Even if a project succeeds in the short term, some team members choose to cash out and leave, forgetting their original intentions and long-term commitment. Therefore, there is very little investment in Web3 Level 1 projects now. Here's a quote from a close friend and OG in the crypto, something that really resonates with us: "The biggest tragedy of crypto is actually quite simple: telling the story of the next twenty years in just three years before the technology is mature. And once the story is over, the people disperse." - Chris Lee #AI #Crypto