Odaily Planet Daily reports: Former Vice President of the Bank of China, Wang Yongli, authored an article titled “Where Does the Massive Increase in Money Supply Come From?” which points out that modern currency has completely transitioned from metal-backed paper money to a system no longer anchored to any specific tradable wealth asset. Both monetary theory and practice have fully demonstrated that anchoring to any specific wealth will inevitably cause the total money supply to be unable to keep pace with changes in the total value of tradable assets. This can lead to severe constraints or hindrances on exchange transactions and economic and social development due to money shortages. Therefore, returning to the gold standard or seeking new anchors for currency (such as cryptocurrencies like Bitcoin, rare earths, energy, etc.) is a misunderstanding of the nature and developmental laws of money.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin ETF Investors in Red Amid Price Decline
Bitcoin ETF holders are facing an average loss of 10% as the price of Bitcoin remains below its realized price. This downturn reflects a broader decline in the spot price and raises concerns about market pressure and future trends.
BlockChainReporter5m ago
Strategy pushes pause button on Bitcoin purchases, stock sales
Strategy, the largest public Bitcoin treasury firm, reported no BTC purchases last week for the first time since December 2025. Despite holding 762,099 BTC worth over $51 billion, the company's stock price has dropped 60% in six months.
Cointelegraph38m ago
Jack Dorsey’s Square auto-enables bitcoin payments for millions of U.S. businesses
Jack Dorsey’s Square on Monday announced it began automatically enabling bitcoin payments for millions of eligible U.S. small businesses, marking one of the most aggressive pushes yet to integrate crypto into mainstream commerce.
The Block (XYZ) subsidiary said businesses can now accept bitcoin
CoinDesk49m ago
Is This the Last Dip? Crucial Bitcoin Indicator Points to Final Capitulation Phase
Continued resistance has kept Bitcoin trading within the $66,000-$68,000 range. As sentiment remains fragile, a technical signal seen in 2014, 2018, and 2022 has reappeared.
However, this could be a major accumulation opportunity for long-term investors.
“Golden
CryptoPotato1h ago
