Maybe we can say that BTC is the put option on the fiat system, and gold is the hedging commodity for the fiat system. However, the true safe-haven asset is neither gold nor Bitcoin—it can only be U.S. dollar cash. This is the biggest reality and the first principle of the global financial system. Especially now, as the U.S. Treasury's liabilities ➡️ Federal Reserve's assets cycle of dollar production gets closer to its mathematical limit, U.S. dollar cash becomes even more precious.