Does anyone still remember that old article on Zhihu? It’s said that many influential figures in the circle only went all-in on Bitcoin after reading it. It contained a bold prophecy — that by 2050, BTC would surge to $1 million. At the time, almost everyone thought it was a pipe dream.

Even more outrageous, the article vaguely mentioned that "in 26 years, a Chinese coin will skyrocket by tens of thousands of times." Looking back now, it still gives me a bit of a chill.

Prophecies are so addictive because, frankly, they provide a "reference point" in an uncertain market. But the question that follows is: once those old benchmarks become reality, where should we look next?

Many may not realize that we are already standing at a more tangible watershed than "Bitcoin hitting a million": the wave of asset tokenization.

This is not some mysticism or metaphysics, but a very pragmatic development — bringing real assets (government bonds, bonds, institutional credit, etc.) onto the blockchain, turning them into yield-generating collateral.

The old dilemma was this: your funds either chase high yields on-chain with unknown risks, or sit in traditional finance earning pitifully low interest, leaving two worlds completely disconnected.

Now, some projects aim to break down this wall. For example, tokenizing U.S. Treasury bonds and depositing them into protocols, instantly swapping out stablecoins to continue operating in the DeFi ecosystem, while retaining ownership of the original assets — effectively enjoying both the interest from government bonds and DeFi mining yields simultaneously.

Why is this approach so crucial?

Because the Bitcoin story has been told repeatedly, and the market is digesting this narrative. The next driver will inevitably be the theme of "efficiency." No longer driven solely by faith, but by real, tangible yields. That’s the real reason big funds are entering the space.