2026-01-18 10:00:18

There is an interesting perspective. Under inflationary pressure, many people worry that fiat currency will be completely phased out, but in reality, it might not be so black and white.

Renowned crypto advocate Balaji used an analogy in an interview — fiat currency is like Microsoft. It may sound a bit abrupt, but his logic is this: Microsoft hasn't disappeared; in the era of cloud computing, a large amount of capital and users are flowing to cloud platforms and new technologies. Similarly, fiat currency won't disappear entirely in the short term, but during periods of high inflation or economic cycles, funds will gradually shift toward cryptocurrencies and other new stores of value.

In other words, this isn't a "this or that" replacement war, but a process of capital reallocation. Fiat continues to exist, but its incremental growth and activity will tilt toward crypto assets. For market participants, this means considering the direction of asset allocation — not betting on the demise of fiat, but understanding the new trends in capital flow.

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LiquidityWizard

· 8h ago

That metaphor from Microsoft is really brilliant; finally someone has clarified this issue—it's not a dead end of either/or.

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AirdropHunterWang

· 8h ago

That analogy from Microsoft is indeed brilliant, but I think the key still lies in liquidity. Fiat currency is backed by a country, so it's not that simple.

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PumpAnalyst

· 8h ago

Microsoft's analogy has some merit, but to be honest, the big players have long been engaged in capital flow games. The problem is that retail investors will never catch up with this wave of dividends, and they're still struggling with the issue of fiat currency disappearance. The people above have already laid out their plans.

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LiquidatedTwice

· 8h ago

Haha, Microsoft's analogy is quite fitting, but can fiat really last that long... --- Reallocating capital sounds easy, but in reality, ordinary people still have to rely on fiat currency to live, lol --- Stop with these "it's either/or" arguments, in the end, you still have to choose a side --- Flowing into crypto assets? First, you need to have money, haha --- I believe this logic half, but the other half still depends on how the central bank plays --- Instead of waiting for funds to tilt, why not start布局 now? Anyway, idle money is just idle money --- Microsoft is still alive because of its monopoly position; can fiat compare? --- Got it, the funds need to run; let's follow the trend --- Sounds good, but ultimately, the core issue of inflation remains unresolved --- This guy's implication is: allocate some coins, don't go all-in on fiat, I wasn't wrong, right?

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BanklessAtHeart

· 8h ago

This analogy is a bit interesting... but to be honest, Microsoft has survived until today through monopoly and ecosystem lock-in. What about fiat currency? What does it rely on?

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StakoorNeverSleeps

· 8h ago

The analogy is not bad, but Microsoft's approach here seems a bit... Fiat currency doesn't have Microsoft's moat. Cloud computing still needs someone to pay, but what about fiat currency? When inflation hits, it depreciates directly. Can these two logics be the same? I support capital reallocation, but don't make it sound like harmonious coexistence. In the end, you'll still have to choose sides.

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