#Strategy增持比特币 has recently been contemplating the issue of stablecoins, comparing all stablecoins to a fund pool.

1. Stablecoins are pegged one-to-one with the US dollar, but as stablecoin issuance is subject to real entities and licensing constraints, there will inevitably be some upper limit.

2. The US dollar, as a fiat currency, will continuously inflate internally, leading to an unlimited overall face value, so the relative proportion of the stablecoin fund pool may decrease.

3. If virtual assets continue to appreciate and expand, it means that virtual assets will have a higher value relative to the total face value of the US dollar.

Finally, from a logical perspective, stablecoins will be unable to support normal trading.