QwQiao, co-founder of Alliance DAO, reiterated his belief that Bitcoin remains the most likely asset to replace gold as a non-sovereign store of value. In a statement on the X platform, QwQiao highlighted that while Bitcoin faces significant challenges such as security budget concerns and quantum resistance, it still stands as the best non-sovereign currency. He noted that the potential for L1 tokens to serve as a hedge against Bitcoin suggests they are not yet overvalued and could be a strategic investment. QwQiao's comments come amid ongoing discussions about the future of digital assets and their role in the financial ecosystem. He previously mentioned that L1 tokens lack a competitive edge, suggesting that focusing on the application layer might be a more viable strategy for investors.