I have summarized two characteristics of the so-called "high-quality assets":
1. Ability to attract traffic and funds in the short term:
When the market is rising, such assets can bring more beta returns, and even when the market is falling, their fundamentals can remain stable. In other words, high-quality assets can steadily attract capital inflows regardless of market fluctuations.
2. Long-term dimension:
Real high-quality assets, even after experiencing multiple declines, can still recover from the trough and eventually return to the peak. In the short term, there are indeed many high-quality assets in the market, but from a long-term perspective, only Bitcoin can withstand multiple cyclical fluctuations and eventually return to a high level.
