The chess game between Bitcoin and Ethereum in January 2026 has just begun. A conspiracy involving $38 trillion in US debt, with Lao Wang helping you organize the data and analyze the underlying logic behind it. While the whole world watches gold and silver continuously rise, if you only think this is just an economic depression and geopolitical risk hedging, then you are truly too naive. Because on the US macro chessboard, precious metals must take the lead first, followed by Bitcoin and Ethereum. This is not a simple rotation; it is a meticulously designed process, and the ultimate goal of this process points to a colossal behemoth that makes everyone and the entire world unable to ignore it—US national debt of $38 trillion. The real debt resolution plan for the US may never lie in congressional bickering or the Federal Reserve, but in asset prices. We are used to hearing politicians talk about debt ceiling limits and fiscal austerity, but when debt reaches the scale of $38 trillion, fiscal language becomes ineffective, and policy momentum becomes pale and powerless. In the face of this scale, any austerity measures or layoffs are just a drop in the bucket. Earlier this year, Trump made a shocking statement: Bitcoin could solve the US $37 trillion debt problem. Most people at the time thought he was just riding the wave for votes, but looking back now, from an asset-debt perspective, Trump's words may be incomplete, but the logic is not as far-fetched as it seems. The US does not need to fully pay off $38 trillion in debt; it only needs to dilute this debt. First, we need to break a common misconception: the US does not need to truly pay off its debt. Historically, no country has ended a debt cycle by frugality and diligent repayment. The real historical scenarios are always three: default, war, inflation, and asset revaluation. The first two are obviously impossible, and the third has a feature that politicians love most: it does not require congressional approval. It only needs to happen quietly in the market. The initial rise of gold and silver is to pave the way. Many may ask: since the US wants to resolve debt, why are gold and silver rising, and why haven't Bitcoin and Ethereum moved yet? Why did gold and silver lead the rise? There is a deep game behind this—an underlying logic of confrontation between the US and the world. If the US wants to rely on Bitcoin to solve the debt in one step, Bitcoin needs to reach over a million dollars per coin. The current market value of Bitcoin held by the US government could mathematically approach the scale of $38 trillion in debt, but this route is too radical and too obvious, likely triggering a severe shock to the global financial system. That is not a smart approach. The real operation is often subtle and silent, like: have you ever seen a market maker tell you they want to pump the price? Now, let’s look back at what actually happened at the end of the year. Gold, silver, and copper—these hard assets recognized by humanity for thousands of years—are systematically strengthening. Silver’s market value even temporarily surpassed Apple. This is no coincidence; it is the first stage of credit revaluation and asset re-pricing. When the US dollar must depreciate to dilute $38 trillion of debt, whose rise is most easily accepted by global central banks, conservative capital, and the world? The answer has never been virtual currencies like Bitcoin and Ethereum, but gold! The rise of gold and silver is a declaration to the world that the purchasing power of fiat currency is declining. We need to redefine asset prices. To some extent, this has actually laid the psychological groundwork and logical foundation for the rise of Bitcoin and Ethereum. The real script may be more covert, more effective, and more advanced than we imagine. In fact, the US has tacitly allowed inflation to cause the dollar’s purchasing power to decline over the long term without collapsing. Asset revaluation allows precious metals to absorb the discount of currency credit, diluting this $38 trillion debt. The nominal number of debt remains at $38 trillion, but due to the inflation of asset prices, gold, silver, stocks, and real estate, the actual burden of debt becomes lighter. When a hamburger sells for $10 and a gold bar for $5,000, the actual amount of debt of $38 trillion effectively decreases. Returning to Bitcoin, what role do Bitcoin and Ethereum play in this system? Gold is the shield of the nation, while Bitcoin is the spear of the people. This is the principle I often mention in live broadcasts: holding a shield in the left hand and a spear in the right. The rise of gold is to stabilize the national credit buffer, signaling to the world that US reserves are still valuable. Once the macro narrative of fiat currency depreciation is established, private capital, institutions, hot money, and funds seeking excess returns will start looking for assets that are more portable, faster, and more flexible than gold. At this point, Bitcoin will quietly make its official debut. Bitcoin and Ethereum are not the pawns of the first stage; they are the escape routes and value amplifiers of the second stage. They must wait—wait for gold to verify the macro logic, wait for the dollar’s credit to loosen in front of traditional hard assets, wait for conservative funds to become eager due to missing out on gold. In the stock, futures, and crypto markets, there is a very classic saying: “When prices rise to a level you dare not buy, and fall to a level you dare not bottom out,” indicating that Bitcoin and Ethereum are not rising amid continuous wide fluctuations because they are not yet allowed to enter the main stage of debt resolution. Any leading character in a story never appears to bow out at the opening, right? Returning to the essence, this round of precious metal asset rises is not necessarily to make some people money, but to keep a huge debt system alive. It is also a good opportunity for us post-90s and post-00s to redistribute wealth in this storm. In this grand play of resolving $38 trillion in US debt, whoever holds hard assets first will be able to get ashore. We must not be shaken out by market manipulation. Stay firm, avoid short-term vague investments. Those who understand the underlying logic behind this storm will be able to enjoy the most lucrative part. Gold, silver, Bitcoin—they are not saviors; they are tools for US debt resolution. Gold stabilizes, Bitcoin soars. So when you see gold and silver rising, don’t panic or doubt. The real show has just begun. )