最新报道：According to CoinWorld, VCI Global is spending $2.16 billion to acquire Bitcoin, planning to use it to issue Reliable Warrants (RWAs). This is preparing for a scenario in which BTC remains largely inaccessible to ordinary retail investors. The company's plans also involve supporting infrastructure roles, promoting custody services, and pursuing unspecified AI tasks. Overall, however, the dwindling Bitcoin supply is VCI Global's primary concern. VCI Global's RWA program is currently booming, with growing demand in Asia offsetting waning interest in the United States. Last week, several Japanese companies purchased more BTC than Strategy, while a US firm spent $679 million on the token today. As Bloomberg ETF analyst Nate Geraci noted, these companies have an advantage over retail buyers: "So, what should the cryptocurrency community do?" ETF issuers are buying more Bitcoin than miners can mint, and there are only 1.5 million BTC left. Malaysian company VCI Global is preparing for this future by betting $2 billion on Bitcoin Reliable Warrants (RWAs). Specifically, the company announced a $2.16 billion fund to "enable a sovereign-ready digital ecosystem," but many of its goals seem somewhat vague. It will store Bitcoin, ostensibly for several purposes, including custody services and some AI computing roles. However, VCI Global's most immediate plan is to use these Bitcoins to begin issuing new RWAs: A world without Bitcoin? Experts have been pondering a world without Bitcoin, and this RWA program could be a good test case. Some analysts have speculated that major holders could become liquidity providers, but these treasury companies haven't spearheaded any specific initiatives. VCI Global may have found a way to keep capital circulating. However, this vision presents some serious obstacles. A recent study claims that the RWA market is severely underperforming; cryptocurrency-native companies represent the majority of investment. TradFi institutions are using their resources to purchase Bitcoin directly, and they may not need RWAs. Furthermore, the supply of Bitcoin isn't expected to be completely depleted anytime soon. Even if the Bitcoin Treasury Company were to experiment with an RWA program like this in the future, it likely wouldn't help VCI Global. In fact, by the time these issues truly become pressing, RWAs might not even be a competitive market segment. When that day arrives, ETFs may be the vehicle of choice, especially for institutional tradfi investors. Physical minting and redemption are already legal in the US, allowing large corporate holders to interface directly with ETF issuers. Nevertheless, it's a useful experiment. One day, at least for practical purposes, our BTC will run out. If we want to understand how the cryptocurrency community operates under these conditions, it's best to start researching sooner rather than later.