Bitcoin Didn’t ‘Fail’ Digital Gold: Markets Misread The Thesis, Galaxy’s Thorn Says
Galaxy Digital's head of research, Alex Thorn, refutes the claim that Bitcoin has failed as "digital gold," arguing the term was always about its fundamental monetary properties—scarcity, durability, divisibility, and self-sovereignty—not a guarantee it would trade in lockstep with gold. Thorn emphasizes that Bitcoin's core value proposition, rooted in Satoshi Nakamoto's vision, lies in its unique ability to be transmitted digitally, a feature physical gold lacks. He frames the "digital gold" narrative not as a short-term correlation trade, but as a long-term thesis that the market may eventually value Bitcoin similarly to a monetary metal. Despite recent underperformance relative to gold, Thorn asserts Bitcoin's fundamentals remain strong and unchanged.
bitcoinist02/18 09:01
