As the clouds of the global debt crisis gradually deepen, is the crypto market a safe haven or a trap for crashes?

Renowned investor Jim Rogers recently issued a warning of great concern: a severe financial crisis may occur by 2026. This seasoned investor, who accurately predicted the 2008 financial crisis, offers a warning that deserves our serious attention.

**The debt bomb is already armed**

Numbers speak the loudest. The US national debt has surpassed 37 trillion, with daily interest payments exceeding military expenditures. Looking at Japan, the debt-to-GDP ratio is as high as 250%, far exceeding the levels seen during the Greek crisis. The reckless money printing by countries around the world over the years is now turning into a sword hanging overhead.

**The virtual and real in the AI boom**

AI concept stocks are extremely hot. Nvidia’s market value is roughly equal to the combined value of the top 20 listed companies in Europe. But interestingly, Nvidia’s executives are cashing out—Jensen Huang has sold $900 million worth of shares, and Bezos and Zuckerberg are also reducing their holdings. When this hype subsides, assets closely linked to the crypto market may also decline together.

**Weak links in the crypto market**

Tokens like SOL and BTC have performed relatively well recently, but risks are deeply hidden. The scale of stablecoins has already exceeded $260 billion, yet these assets are tightly linked to US Treasuries; the correlation between Bitcoin and US stocks is also increasing. We may be standing at a critical juncture—once traditional finance experiences severe volatility, the crypto market will almost be unable to stand alone.

**Rogers’ advice**

The investment veteran’s logic is clear: hold cash and US dollars (hard currencies in times of crisis), focus on allocating silver (spot shortages persist, driven by industrial demand), and reduce personal debt while staying away from high-risk assets.

The question is, when the traditional financial system encounters problems, can crypto assets effectively serve as a hedge? Or will they be dragged into a new round of crashes? The answer may lie in the market changes over the next two years.