【Deep Signals of Cash Hoarding】

When Berkshire Hathaway holds $381.7 billion in cash and continues to sell off US stocks, this is no longer just simple risk avoidance. It’s a signal—and a rather sharp one.

Think about the logic behind this. US national debt has ballooned to $38 trillion, and the share of global dollar reserves has fallen to a multi-decade low. The once rock-solid asset portfolio is now increasingly dependent on a few tech giants. Buffett’s entire success story is essentially tied to dollar hegemony. His current cautious stance? It’s like saying: “This ‘wall’ is starting to let in air.”

【The Birth of a New 'Value Anchor'】

When the old system shows cracks, capital will inevitably seek new places to settle. That’s why digital assets like Bitcoin and Ethereum are beginning to have a different narrative—independent of any single sovereignty, with clear and transparent rules, crossing regional boundaries. Not to replace, but to play a key role in a new multipolar, digitalized world.

What’s even more interesting is that central banks around the world are continuously releasing liquidity. When concerns about traditional financial systems meet abundant market "water," where does the money flow? The answer seems increasingly obvious.

A question worth pondering: when those once “safety anchors” start hoarding cash instead of investing, what will be the next “needle”?