Main Points:
- Bitcoin’s narrative as a store of value is being challenged amid the latest crypto crash.
- Tezos co-founder Kathleen Breitman comments on the BTC sell-off, attributing it to broader market jitters.
- Bitcoin’s price plunge is also influenced by geopolitical tensions, interest rate decisions, and rumors of massive selling.
- Breitman criticizes Bitcoin as “internet pretend money” and questions its status as a store of value.
- Despite the current downturn, Bitcoin remains a core asset with utility and potential for growth.
- Bitcoin’s value has fallen significantly in the past 24 hours, contrasting with the performance of gold.
Tezos Co-Founder’s Opinion on Bitcoin Sell-off
In a recent interview, Tezos co-founder Kathleen Breitman discussed the Bitcoin sell-off and attributed it to broader market concerns such as global recession fears, geopolitical tensions, and interest rate decisions. She criticized Bitcoin as “internet pretend money” and expressed skepticism about its store of value narrative, which she believes is currently under pressure.
Bitcoin as Speculative Currency
Breitman emphasized Bitcoin’s speculative nature and questioned its role as a store of value asset. Despite the current market turmoil, she acknowledged Bitcoin’s core utility and potential for growth, suggesting that it does not necessarily need to be a store of value to remain relevant in the market.
Bitcoin’s Price Fluctuations and Market Performance
Bitcoin has experienced significant price fluctuations, with a notable decline in value over the past week. While it has rebounded slightly from its recent lows, the overall market sentiment remains bearish with 24-hour liquidations exceeding $1 billion. In contrast to Bitcoin’s decline, gold has maintained its value amidst the market turmoil.
