In 2140, an important moment is approaching: the Bitcoin network will welcome the birth of the last Bitcoin. This marks a critical turning point in the legendary journey of Crypto Assets that has lasted 115 years. With the total supply cap of 21 million Bitcoins being locked, the core mechanism supporting the operation of the entire network will undergo fundamental changes.

For a long time, miners have maintained the security and operation of the network by receiving newly minted Bitcoin as rewards. However, when the last Bitcoin is mined, this incentive mechanism will cease to exist. The Bitcoin network must transition from relying on new coin rewards to relying on transaction fees for operation. This transition is not only a test of technological adaptability but also a significant challenge to the principle of decentralization.

In this new era, transaction fees will become the main economic driving force for maintaining network operations. Since the inception of Bitcoin, block rewards have been like the lifeline of the network, not only incentivizing miners to validate transactions and maintain the ledger but also ensuring the decentralization and security of the network through actual economic value. However, after 2140, this mechanism will cease to exist, and transaction fees must take on the crucial responsibility of supporting the entire network.

A senior executive from a Singaporean exchange pointed out that when block rewards disappear, the network's security will directly depend on the demand for block space. This means that Bitcoin needs to evolve from a niche investment to a global financial infrastructure in order to generate enough high-value transactions to sustain the network's operation. Just like every inch of land in a bustling financial district is worth its weight in gold, if Bitcoin can become an indispensable digital asset, then the 'toll' for each transaction might be enough to support miners' operating costs.

In this game concerning the future of Bitcoin, the participation of institutional investors is seen as a key factor. If enterprises can incorporate Bitcoin into their cross-border payment and large-scale settlement systems, it will greatly increase the demand for Bitcoin transactions, thereby raising transaction fees and ensuring the long-term sustainability of the network.

This transformation spanning over a century not only tests the adaptability of Bitcoin technology but also serves as the ultimate test of its decentralization philosophy. Whether Bitcoin can successfully complete this transition will determine if it can truly become the cornerstone of the future global financial system.