Balaji: The fiat currency crisis has begun; Bitcoin's core value lies in its resistance to censorship.

Balaji, former CTO of Coinbase and general partner of A16z, published an article on the X platform stating that a fiat currency crisis has begun, and Bitcoin's core value proposition lies in its resistance to censorship. Balaji argues that while gold has value in highly organized countries, it also faces the risk of being tracked and confiscated. In contrast, digital gold (and cryptocurrencies), represented by Bitcoin, possesses invisibility, internationalization, immediacy, and internet-native attributes, surpassing physical gold in terms of transportability, programmability, and verifiability. Balaji points out that as gold prices rise, the taxation or confiscation of physical gold will increase. He predicts that Eastern countries like China may revert to a gold standard, a digital gold standard, or a hybrid of both, while the internet will replace the US dollar with digital gold and cryptographically verifiable digital assets. Furthermore, Balaji advises investors to consider withdrawing from G7 countries and other regions highly dependent on the US dollar amid the deepening sovereign debt crisis, emphasizing that in the current environment, geographical location is more important than asset allocation.