Just after talking about the impact of listing, there has been a wave of decline recently. This impact is indeed very elusive for Lao Cui. Indeed, the trend of the market is becoming more and more elusive. Let's start with the macroeconomics. Many friends cannot really understand the significance of Bitcoin and Ethereum ETFs being listed in Hong Kong. They have always focused on the flow of Asian capital, thus ignoring the essential meaning of listing. Lao Cui's focus is on the channels of asset pricing and foreign exchange circulation. The most difficult assumption is that if the other side really shuts down our overseas settlement system, the circulation of foreign exchange can at least be converted into foreign exchange through the currency circle.

At the level of foreign exchange, the process of converting it into RMB again is quite simple. Therefore, in the trading rules of the Hong Kong Stock Exchange, ETFs can not only support purchases with Hong Kong dollars, but also be purchased directly with currency. Of course, what Lao Cui said is under the most difficult situation, but the things considered at the national level are definitely more comprehensive than what we personally think. The pricing power of circulating currency is indeed very important. The problem with virtual assets is not that the transaction is illegal, but that its value can only be realized by the buyer. If there is no buyer to take over, + author shi9527111 The currency circle itself has no value. Don't think this concept is very extreme, there are still examples in reality. Do you think the value of Salvadoran banknotes is still high? All currencies themselves have no value, including legal tender, and they can only be realized with strong capital endorsement.

To put it bluntly, it is the purchasing power given by those in power. Simply put, legal tender can be used to purchase the country's inherent assets in the market, ranging from national debt to a screw. These are all purchasing powers granted by a country. So everyone should be clear about the issue of centralization,