The Circle has gone public, and the concept of cryptocurrency stocks in the US stock market is surging. Recently, I've seen self-media KOLs promoting US stock account openings, and the enthusiasm is high, with many joining in on the praise.

The US stock market is not that simple. It is a market with a history of several hundred years and has long gone through the phase of retail investor dominance. If you have large capital, then consider allocating to US stocks for a long-term strategy; if you have small capital, it's unnecessary. In the cryptocurrency circle, it's better to hold back and patiently wait for opportunities, which is more suitable for small investors looking to make big gains with small amounts.

I previously read a research report on US stocks, which showed that the proportion of retail investors making money is also quite small. In the long term, the most stable returns come from holding large-cap stocks; most people, in their constant trading, cannot outperform this simple strategy.

In the bear market of the past two years, friends in my circle switched to US stocks, primarily buying COINBASE and MicroStrategy, both of which were profitable. After making money, they then dabbled in other non-cryptocurrency concepts and ended up losing quite a bit. In short, it's not as easy as it seems.