Many people are still using the old definitions of digital assets—BTC as digital gold, ETH as digital oil. But these theories are now outdated.

What is the truth? With the wave of AI sweeping across, the rules of the game have changed. In this new era, computing power has become the most scarce resource. From a macro perspective, as we enter the "Digital Intelligence Cycle," BTC and computing power will play the roles of dual engines in the new era—one as a value anchor, the other as a production factor.

This is not a fairy tale. The logic that computing power is money is coming faster and more aggressively than we expected. Whoever masters computing power, whoever controls the discourse of this era.