Capital—of every kind—is concentrated in the United States: top-tier real estate, intellectual property, risk capital, you name it. The U.S. has historically attracted global capital because of its economic dominance and stability, and most of that capital resides in dollar-denominated assets.

But now, the message from the U.S. is changing. It’s becoming more protectionist: restricting tourism, student visas, foreign property investment, and access to capital markets. Tariffs and geopolitical tensions are signaling a clear message—don’t come here. Whether it’s people or capital, the U.S. is becoming less welcoming.

So what happens when the world’s premier destination for capital effectively shuts its doors? Investors begin to withdraw. But where does that capital go? There isn’t another country today that offers the same scale of economic security, infrastructure, and opportunity. Maybe there will be in the next 10 to 20 years—but not yet.

In the meantime, capital is shifting from physical, jurisdiction-bound assets to digital, borderless ones. We are entering a new era where capital moves to cyberspace. The digital asset of choice? Bitcoin.

This is the great migration—from physical capital to digital capital. From the old world to a new, open, and decentralized one.