Svmuu News: 10x Research released a report stating that while the market generally believes the core value of Bitcoin lies in hedging against currency devaluation, this is not its true investment rationale. The report argues that the core constraints facing decentralized currencies are not monetary policy, but rather physical conditions, including energy, heat dissipation, and geographic jurisdictional limitations.
The report notes that as space infrastructure develops, the thermal, power, and geographic constraints faced by data centers may be alleviated in an orbital environment. The connections between SpaceX, Starlink, and Bitcoin may represent a long-term strategy centered on future infrastructure development.
10x Research believes that technologies such as satellites, cryptography, and artificial intelligence can both drive the decentralization of power and reinforce the centralization of resources, and that the world is currently competing around two distinct infrastructure systems.
The report also compares the “Bitcoin” with China’s digital yuan, arguing that the two represent divergent paths for digital infrastructure. It further notes that as populations gradually move away from traditional network systems, the business models of companies like Palantir may also be affected.