Recently, the heated crypto assets market has raised questions about its actual value. The market capitalization of a single Bitcoin has exceeded 16 trillion RMB, a figure that is equivalent to the total market capitalization of three Tencent companies. If we add up the total market capitalization of the top ten crypto assets, the scale is so large that it even makes one wonder if it is sufficient to repay the U.S. national debt.

However, this simple numerical comparison overlooks a key issue: does the value of Crypto Assets have a real economic basis? If merely 'printing' digital currency could solve the debt problem, the US government would have probably done it long ago. In fact, this idea is overly naive.

Unlike crypto assets, technology giants like Tencent have the support of the real economy and can continuously create value through diversified businesses. The products and services they offer directly impact people's daily lives and play an important role in the global economy.

In contrast, cryptocurrencies such as Bitcoin still lack stable value anchoring and practical application scenarios. Their price fluctuations are severe, reflecting more of a speculative mentality rather than intrinsic value.

We must remain rational and recognize that there may be a bubble in the current Crypto Assets market. Overinflated asset prices will eventually face adjustments, and investors should act cautiously, not be blinded by short-term windfall profits.

When assessing the value of any asset, we should focus on the actual economic activities and long-term development prospects behind it, rather than being misled by superficial numbers. In the future, for Crypto Assets to truly become a valuable asset class, significant progress is still needed in practical applications and regulatory compliance.