Alliance DAO co-founder: still believe that Bitcoin is the most likely asset to replace gold.

On December 2, QwQiao, co-founder of Alliance DAO, stated on social media, “If L1 Tokens have the potential to become a non-sovereign store of value, it indicates that their prices are not severely overvalued and can also serve as an effective hedging tool for Bitcoin. Bitcoin will face at least two major risks in the coming decades: security budget and quantum resistance. The core idea is that Bitcoin is relatively rigid and may not respond quickly enough to these issues. Of course, I still believe that Bitcoin is undoubtedly the best non-sovereign currency and the asset most likely to replace gold, but if you are looking for a good reason to hold L1 Tokens, this is it.” Previously, QwQiao indicated that it is hard to convince himself to hold L1 Tokens for the long term because there is no “moat.”