Yilihua: Bear markets won’t alter crypto’s value, on-chain finance and AI will usher in a new round of opportunities.

Liquid Capital (formerly LD Capital) founder Yilihua wrote in an article that amid every crypto bear market, widespread skepticism about the value of digital assets emerges, but he remains bullish on the long-term growth of the crypto sector. The core value of crypto lies in "on-chain finance". While real-world financial assets and applications such as gold, the U.S. dollar, and U.S. equities already exist, blockchain is migrating these financial scenarios to on-chain infrastructure, boosting convenience and transparency. He cited examples: real-world gold corresponds to BTC on-chain, which is more portable, easier to store, and simpler to transact; real-world U.S. dollars are mirrored by on-chain stablecoins, which offer more flexible account access and global U.S. dollar circulation capabilities; traditional assets like U.S. stocks are also gradually being mapped onto the blockchain. Yilihua noted that crypto’s greatest value lies in delivering on-chain financial freedom. Additionally, he views AI as one of the key technological development directions, representing a new track and opportunity for the convergence of finance and technology. This is the rationale behind his long-emphasized "half crypto, half AI" allocation strategy—participating in development opportunities in both on-chain finance and the AI space.