Bitcoin crossed the $80,000 level last week and reached a peak of $84,000. Investor Jason Calacanis called the move a dead-cat bounce and questioned Bitcoin’s relevance 17 years after its creation, citing its lack of transactional utility, complex user experience, and failure to capture public imagination. Prominent Bitcoin advocates Michael Saylor and Cathie Wood rejected this analysis, emphasizing Bitcoin’s role as a digital store of value and hedge against counterparty risk. Meanwhile, ARK Invest sold more than 1.5 million shares of its ARKB Bitcoin ETF for $40 million. The debate highlights the divide between those evaluating Bitcoin on practical utility and those viewing it as an asset designed for long-term capital preservation.
Source: Read the original article
