Recently, an economist's analysis caught people's attention—our current fiat currency system and the global order are undergoing profound changes, and we seem to be at a historical turning point.

Looking closely at this theory, it essentially describes the decline trajectory of an empire. It begins with economic prosperity driven by education and technological innovation, then gradually evolves: first with debt accumulation, then with increasing wealth disparity, intensifying conflicts between the poor and the rich, and finally with the rise of external powers posing challenges—the entire cycle lasts about 250 years.

It sounds very deterministic, but upon reflection, history is indeed astonishingly similar. What is the common reaction at this point? Some increase their holdings of gold, while others strengthen their positions in digital assets like Bitcoin.

Regardless, the evolution of economic cycles often prompts a rethinking of asset allocation. Against this backdrop, the combination of traditional safe-haven assets and new asset classes is becoming the choice for more people. The lessons of history are right in front of us.