Recently, the market has sparked another discussion. The founder of a well-known investment institution expressed his views on the prospects of Bitcoin in a public setting, directly pointing out many issues that people in the market tend to avoid.

His core point is quite striking: Bitcoin is unlikely to become a central bank reserve currency. The reasons are not complicated—too much volatility, regulatory systems are not yet perfect, and there is no sovereign credit to back it. In this big shot's view, BTC is at best an alternative asset in institutional portfolios. To shake the status of the US dollar? That's still too naive.

The timing of these remarks is worth pondering. At a moment when compliance frameworks such as MiCA are continuously improving and market access thresholds are significantly increasing, such views carry extra weight.

Institutional funds will indeed continue to flow into the cryptocurrency market, but don't expect them to treat Bitcoin as gold. The positioning of an asset often determines its valuation space, and this cold water may help some people realize the true state of the market more clearly.