Morgan Stanley's "Erosion of Dollar Credit" Theory, $BTC Is Becoming an Institutional Hedging Tool
Xing Zhiqiang publicly stated at the China Chief Economist Forum that "the U.S. fiat currency system is experiencing credit erosion".
The weight of these words coming from Morgan Stanley's chief is different.
Energy, precious metals, and non-traditional fiat assets—$BTC perfectly fits this definition.
In 2026, institutional narratives are shifting from "risk assets" to "digital gold".