After the approval of the Bitcoin spot ETF, astronomical amounts of capital are flooding into the market. In response, social evaluations are polarized. One side laments that 'Bitcoin has been co-opted by the traditional financial system, losing its original intention and deviating from its purpose,' while the other side revels in a sense of victory, claiming that 'Wall Street has bowed to Bitcoin.'
However, this black-and-white logic entangled in 'who wins and who loses' is precisely the most foolish perspective that obscures the essence of events. The current phenomenon is by no means a simple victory or defeat in a capital war. This should be interpreted as a civilizational-level 'great turning point' in the fundamental overturning of humanity's view of currency, and also the grand 'enlightenment' process designed by Satoshi Nakamoto.
First, face the facts directly. The code of Bitcoin has not changed a single line. Could it be that because giant firms like BlackRock and Fidelity have entered the field, the Bitcoin network would issue currency for them or open an auditable backdoor? Absolutely not. Bitcoin has made no compromises and remains steadfast.
It is not Bitcoin that has changed, but the world's perspective on currency.
Just a few years ago, the world was still trapped in the Keynesian dogma that "moderate inflation is a necessary driving force for economic growth." Deflationary currency was seen as a malignant disease that damages the economy. However, witnessing the unlimited money printing by various central banks and the resulting severe devaluation of currency, the spirit of the times has drastically shifted.
The public and institutions have finally awoken: what we need is currency that will not be harmed by arbitrary decisions made by state power or a few elites, a network that cannot be halted by anyone, and systems driven by incorruptible protocols.
Institutions are beginning to include Bitcoin in their asset portfolios, not because they have failed, nor because Bitcoin has deteriorated. Rather, it is that they have finally opened their eyes in the face of this cold mathematical truth. The phenomenon of the traditional financial system self-reforming in contrast to Bitcoin's invariance is less about "surrender" and more about a "conversion" and "awakening" towards truth.
What Satoshi Nakamoto bestowed upon the world in 2008 was not merely a speculative asset. He threw a fundamental question at humanity: "What is true currency?" The past fifteen years have been a difficult journey in search of an answer.
What we are witnessing at this moment is not a confrontation between Bitcoin and the traditional system. This marks the arrival of the "Enlightenment Era," proclaiming the gradual decline of arbitrary credit currency and the rightful establishment of a new currency standard based on mechanical trust. If there is time to debate victory or defeat, it is better to first understand the already reconstructed laws of the world.
