Bitcoin’s long-held narrative as a safe haven and digital gold is under scrutiny, as veteran analyst Ran Neuner, among others, questions the pioneer crypto’s future.
Experts outline why Bitcoin may no longer serve the role it once claimed, and why the broader crypto ecosystem could be on the brink of a new era.
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Bitcoin’s Store-of-Value Thesis Faces Crisis as Crypto Evolves
Despite a weakening US Dollar and mounting global uncertainty, Bitcoin underperformed expectations as a hedge against fiat debasement.
The US Dollar Index (DXY) fell roughly 9% in 2025, and another 2% year-to-date in 2026, yet Bitcoin declined 20–22% YTD, trading for $68,255 as of this writing. Gold, by contrast, surged, proving resilient in risk-off scenarios.
Analysts, including Willy Woo and Henrik Zeberg, reinforce this view, highlighting that Bitcoin behaves as a high-beta, risk-on asset rather than a safe haven.
Bitcoin’s ideological allure appears to be fading. Retail participation has reached multi-year lows, and early evangelists have largely exited the market.
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Institutional Access Achieved, But at a Cost
With 11 spot Bitcoin ETFs approved, corporate treasuries holding large allocations, and pro-crypto regulatory frameworks in place, Bitcoin has fully integrated into TradFi systems.
Michael Burry warned that this shift exposes companies holding BTC to significant value erosion if markets continue to correct:
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Crypto’s Next Phase: AI and Machine-Native Finance Amid Narrative Shift
Neuner sees the future not in Bitcoin’s store-of-value thesis, but in the emerging economy powered by AI agents.
Trillions of autonomous microtransactions will require instant, programmable settlement rails, a need that blockchain networks are uniquely positioned to serve.
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While Bitcoin struggles to retain its original purpose, broader crypto infrastructure could become the foundation for the next digital economy.
Analysts suggest that even if Bitcoin bled to death, decentralized networks, altcoins, and blockchain-based solutions may capture real utility and revenue models in the AI-driven era.
Neuner’s assessment highlights a critical turning point for crypto. Bitcoin may no longer be the ideological engine it once was, but the industry’s potential extends far beyond a single token.
Source: https://beincrypto.com/bitcoin-ai-economy-store-value-analysis/
