If you study Bitcoin you realize that not only real-world assets but all crypto assets fall to 0 on a relative basis against Bitcoin And the reason is quite simple - If you believe the USD and other fiat are all going to 0 then the platform value of servicing stablecoins and fiat value isn't where the long-term value is since all value there is determined in fiat denomination (And that's assuming stablecoins bring the hyped returns people think to their platforms) Hence you realize the token has to have value in itself without the need for other things to be on other layers as a starting basis as that unit of account needs to be of value first and foremost And only proof of work provides that fair basis where all participants buyers or miners are able to acquire something at market equilibrium risk adjusted Stablecoins and finance are big and it will benefit the whole space Bitcoin included but you have to separate the cognitive dissonance of believing something is worthless and yet at the same time that's why it's going to bring value in the long term- You can't forget that stablecoins are just digital versions of fiat To put it simply Bitcoin has value in itself before anything is built on layer 2s and over time Bitcoin reprices everything denominated in fiat down including other crypto assets Most crypto assets only derive value from mediating usage and could not sustain value on its own #Bitcoin