#Strategy加仓BTC The new US tax regulations are here, and the tax exemption for sovereign wealth funds investing in the US is about to disappear. Direct loans, private equity—these could all be classified as "business activities" and face taxation.

Honestly, these national-level financiers are the big vaults of private capital worldwide. Once the new regulations are truly implemented, it won't be a small matter—investment portfolios worth hundreds of billions of dollars will need to be reevaluated, and the tax risks of already planned projects will also come into play.

What's the background? In recent years, sovereign funds have indeed poured a lot of money into the US market. But the Trump administration's frequent interventions prompted these institutions to start thinking about risk diversification. Now, with another wave of tax reform, the appeal of global liquid assets like $ETH BTC might actually increase—after all, when the policy costs of traditional financial investments rise, more institutional funds are likely to shift toward more flexible, decentralized asset allocations.

Global capital is recalculating. This wave of changes is enough to reshape the capital landscape over the next 18 months.