A consensus among many seasoned investors is this: in the crypto space, only Bitcoin is worth holding long-term; other coins can basically be passed on. This view sounds absolute, but the underlying logic is very hardcore.

First is security and network effects. Bitcoin is currently the most decentralized and robust network among crypto assets. This is not just talk—if a system like Bitcoin can't survive, there's no hope for other coins. Moreover, the gap is widening because hash power, developers, and users are converging on Bitcoin, forming an irreversible network effect.

Then there's the issue of scarcity. The total supply of 21 million is an ironclad rule, with halvings every four years, meaning the inflation rate continues to decline. Compared to most other cryptocurrencies that issue tokens freely without strict caps, Bitcoin's deflationary model truly possesses the characteristics of hard currency, suitable for long-term storage.

On the market level, there's an interesting model: HODLers only buy and never sell, miners only sell and never buy, speculators trade back and forth. When the halving event triggers increased HODL demand, and miners' costs support the price floor, the price will inevitably rise in the long run. So some adopt a simple strategy—hold and wait.

As for other coins? It's not about being bearish, but in the race of store of value and currency, Bitcoin has already established an insurmountable advantage. Its focus on just "digital cash + value storage" avoids the risks of feature bloat. Under the logic of winner-takes-all, dispersing efforts often can't match the determination to go all-in.