Bitcoin Accidentally Delivered on Its Big Promise. Why That’s Bad News for Crypto ‘Hodlrs.’
· Barchart
AI Briefing
- Bitcoin has delivered net-zero returns since late 2021, contradicting its purpose as a store of value.
- Bitcoin was originally envisioned as a peer-to-peer payment system, not a store of value.
- Bitcoin's rebranding as "digital gold" was to outpace inflation, not maintain value.
Context
Bitcoin has functioned as a store of value, but not in the way expected. It has delivered net-zero returns since late 2021. Bitcoin was originally envisioned as a peer-to-peer electronic payment system.
Its rebranding as "digital gold" was meant to make it a high-octane store of value that outpaces inflation, replacing fiat currencies.
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