中文翻译
$CRCL 是稳定币，和 Ethereum 或 Solana 这类 L1 没什么关系，因为它们并不重要。 thesis 在于，它正在成为一种结算标准（Visa、PayPal、YouTube 等），而这种网络效应的价值远远超过它 170 亿美元的估值。 这既符合美国政府把更多人纳入美元/美国债务体系的战略利益，也符合全球公司的利益。 人们当然可以铸造 PayPal USD、Paxos USD 等，但 USDC 基本已经成了大家认可的标准，这一点极其、极其有价值。
· 个股论点
认为 USDC 已成为结算标准，价值远超当前估值
涉及标的： $CRCL
英文原文
$CRCL is stablecoins, has nothing to do with L1s like Ethereum or Solana since it doesn’t matter. Thesis involves that it’s becoming just a standard for settlement (visa, PayPal, YouTube, etc.) and that network effect is worth infinitely more than its $17B valuation both in us government strategic interest to get people into the US dollar/debt system as well as the global companies. People can mint PayPal usd, paxos usd, etc but USDC has basically become the agreed upon standard and this is incredibly, incredibly valuable.