Recent global markets seem to be playing out a "great wealth transfer" drama. Throughout 2025, gold surged by 64%, silver skyrocketed by 210.9%, the US stock Russell 2000 index rose by 12.8%, and the A-shares STAR Market 50 saw monthly gains of over 15%. Meanwhile, Bitcoin, after briefly reaching a high of $98,000, has been on a downward trend below $90,000, and now even dropped to $89,000, falling into a state of "lowest volatility ever." The direct consequence of this divergence is that an increasing number of investors are re-evaluating the logic of asset allocation—those dividend-paying stocks that distribute dividends four times a year and are known for stable cash flows are now using "certainty" to counter the "uncertainty" of crypto assets. And questions are emerging: why, after Bitcoin received unprecedented backing from the US establishment (SEC approval of ETFs, government strategic reserves, state pension funds entering the market), has it instead...