Global liquidity experts: Bitcoin and gold are the preferred core assets for dealing with long-term monetary inflation According to BlockBeats, on November 25th, global liquidity expert Michael Howell stated on his latest podcast that the trend of currency inflation, which has had a significant impact on the market over the past decade, is expected to continue for at least another two to three decades. In this macro context, Bitcoin and gold have become reasonable choices for investors to hedge against inflation. He suggested that when holding Bitcoin in an investment portfolio, appropriate adjustments can be made based on volatility to optimize risk return. According to data from the Congressional Budget Office (CBO) cited by Howell, from 2000 to 2025, the stock of federal government debt in the United States increased tenfold, while the S&P 500 index rose less than fivefold during the same period, and gold prices rose 12 times. This continuously expanding debt environment provides long-term value support for Bitcoin and gold. When it comes to the Bitcoin market cycle, Howell stated that he has not found clear evidence of a "four-year cycle" in historical data, but can observe Bitcoin's halving cycle, and the current trend shows that the cycle is gradually converging. He emphasized that investors should consider both long-term trends and cyclical fluctuations when constructing cryptocurrency portfolios. In terms of investment strategy, Howell suggests that investors should hold core positions in Bitcoin, gold, and high-quality assets that perform well during inflationary periods, such as high-quality residential real estate and high-quality company stocks with pricing power. At the same time, tactical operations can be set up in the portfolio to moderately adjust risks and optimize returns when the market cycle reaches a turning point.