Recently, there is a phenomenon worth pondering—global smart money is accelerating its shift. It’s not about the rise and fall of digital assets, but rather a reallocation of the entire capital landscape.

Let’s look at some hard data. By 2025, the global silver supply gap has reached 95 million ounces, marking the fifth consecutive year of supply shortages. More concerning is the production dilemma: 72% of silver production comes from copper, lead, and zinc by-product mines, and major mining companies are not increasing production just because silver prices soar. The new capacity added this year has basically seen no growth.

On the demand side—solar photovoltaic, electric vehicles, and AI servers, the "Big Three Silver Consumers," are rapidly consuming capacity. One new energy vehicle consumes 50 to 100 grams of silver, and the silver used in AI servers is three times that of conventional servers. On one side, capacity is drying up; on the other, demand is exploding. Silver price increases seem inevitable.

But what’s truly interesting is the change in the capital mindset behind it. Recently, the US SEC and CFTC have taken new actions in regulatory cooperation. The "CLARITY Act" finally clarifies their respective boundaries—SEC regulates digital asset securities, CFTC oversees digital commodities. The problem is, the definition of "hybrid" assets remains vague. During this regulatory gap, some crypto funds have simply chosen to temporarily withdraw. Meanwhile, silver, as an asset with both industrial and financial attributes, naturally becomes the best safe haven. This wave of capital migration closely aligns with the flow in the crypto market.