The most surprising thing I heard from this interview is that Sun Yuchen said that he is more worried about BTC than before, while also saying that his BTC position has not decreased by a single point. Jin Ming and the founder of TRON have a 47 minute public video discussing cryptocurrency AI， We also talked about how he actually puts money. Opinions and positions do not always go in the same direction, but instead make me want to continue listening to how he explains. ① Worried about BTC, first consider protection, the bottom position has not been sold yet. Sun Yuchen is concerned that the development of AI algorithms and quantum computing may impact the existing cryptographic security of Bitcoin; Especially for old addresses that have not been moved for a long time and whose owners may not be able to voluntarily relocate. He believes that the market has underestimated this issue. Jin Ming asked: Since you're so worried, why don't you lower your position? His answer is that BTC is still configured as a bottom position and has not been sold yet. We will first consider controlling the coin address for more cautious isolation and continue to monitor technological progress. I think this answer is more interesting than saying 'bearish on BTC': he is indeed worried, but has not turned his concern into a sell order yet. Ethereum is a different set of processing. According to his recollection in the interview, ETH fell back after approaching $4800 earlier, and when it surged again, he saw a fragile "double top", so he reduced his position by 80-90% in the range of about $3600 to $4000, leaving a portion of the bottom position, which has not been bought back yet. The empty funds were later allocated to the US stock market. Don't listen to the switch here: reducing ETH was his judgment on the price structure at that time, not because of the AI security concerns later discussed. BTC as the bottom position and ETH as the offensive position are the key differences between the two operations. ② He is more interested in seeing what AI can do for people than continuing to bet on a certain hardware aspect of AI. Among the choices of power, chips, models, and applications, Sun Yuchen chose applications, citing health management as an example. What he described is not "wearing a device and letting AI announce if you are sick": wearable devices collect some daily data, while other data still needs to be checked in the hospital; Collect data and submit it to AI analysis, then listen to the second opinion of doctors or experts before making health decisions. He also made it clear that the mentioned health equipment company did not invest in it itself. I am quite interested in this paragraph because it focuses on the specific actions of "AI changing lives" such as blood tests, data analysis, and finding a doctor, and acknowledges that devices cannot collect everything. ③ I think it's expensive to stick together, but I still hold onto the Nazhi and Nvidia. He believes that funds are currently too concentrated on a few AI model companies and hardware such as chips and storage, and some valuations are already very high; He expects companies that truly make applications in the future to broaden their funding choices. But when it comes to his position in the US stock market, he still holds Nvidia and is also associated with the Nasdaq. Jin Ming asked directly: Since there is a bit of bearish sentiment in the mid-term, have you shorted it? No, the position is still open. I actually listened to this paragraph the most attentively. He has concerns about the current valuation, but he still holds it in his hand and has not shorted it in reverse yet. Compared to just picking a sentence like 'bearish on AI' or 'bullish on applications', putting his judgment together with the actions he hasn't taken yet is the key to seeing where he is standing right now. Full video link: https://www. (youtube.com)/watch? v=o9Jn__LGGI4