PANews reported on April 7th that, according to data from XWIN Research Japan, the US money supply has surpassed $22.6 trillion, a record high, indicating a shift in the global liquidity environment. Since the 2008 financial crisis, the money supply has nearly tripled, while the purchasing power of the dollar has declined by approximately 38%, reflecting structural inflationary pressures resulting from the increased money supply.

The report points out that Bitcoin's long-term price has been on an upward trend amid liquidity expansion, acting as a "reservoir" for excess capital. Meanwhile, the increase in active addresses indicates that Bitcoin is not only a financial asset but also a continuously growing network. Nevertheless, current money supply growth is primarily driven by government debt rather than organic credit expansion, raising concerns about sustainability and inflation risks.

XWIN Research believes that Bitcoin possesses the dual characteristics of a hedge against currency devaluation and a network-driven asset. Its long-term value is determined by liquidity, price, and network growth, and requires analysis from multiple dimensions.