Stefan Jespers, a prominent crypto influencer known as WhalePanda, took to X to raise doubt about Bitcoin’s qualification as a store of value. While such an opinion is hardly popular in the crypto community, it has its fair share. Let’s break it down.
Summary
- A Bitcoin investor and influencer, WhalePanda, points to the weakening Bitcoin performance in 2025, disputing that we are in a bull market right now.
- He says that gold and big stocks are a better store of value than Bitcoin, which has grown only 500% in eight years.
- While not appreciating Bitcoin’s long-term performance, WhalePanda highlights Bitcoin’s important role as an uncensorable means of exchange.
Table of Contents
Bitcoin as a store-of-value
Bitcoin has an infamously low network capacity with its five to seven transactions per second (for comparison, Visa boasts around 24,000 transactions per second). Multiple developers are involved in working on this problem.
However, many Bitcoin enthusiasts just dismiss the idea of using Bitcoin as a means of payment. Instead, they say, Bitcoin is a store of value. Notably, Michael Saylor, whose company Strategy is the biggest corporate owner of Bitcoin, claims that Bitcoin is not a currency but rather a capital akin to gold. According to Saylor, Bitcoin is better than gold, as its digital form makes it more mobile and manageable.
Not everyone agrees that we should get over the fact that Bitcoin is a store of value and not a means of payment. For instance, Twitter co-founder and Block Inc. CEO Jack Dorsey (and a Bitcoin creator, according to Matthew Sigel of VanEck) said that Bitcoin has to be used for payments in order to be relevant.
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Author: Alexey Borovets
