By the end of 2025, a farcical drama unfolded in global capital: on one side, gold broke through $4,500, and silver surged by 150%, with central banks around the world frantically hoarding gold; on the other side, Bitcoin plummeted 30% from its peak of $126,000, mercilessly abandoned by the market. On the surface, this seems like a victory for the 'risk-averse logic'—but the truth is harsher: it’s not that Bitcoin fell, but that it was never truly regarded as a 'store of value'.
The frenzy for gold stems from a collective distrust in the US dollar credit system. Meanwhile, Bitcoin's correction precisely exposes its awkward position: it is neither stable enough to be considered a safe haven asset nor too wild to be fully accepted by mainstream finance. Institutions sell it off in times of panic, and retail investors flee after leveraged liquidations—let’s not forget, Bitcoin was never designed for 'stability'.
Its true value lies not in candlestick charts but in the hands of those who cannot use bank accounts, in the families of Argentina fighting against hyperinflation, and in the eyes of ordinary people safeguarding their wealth with a string of private keys amidst war. Bitcoin is digital sovereignty, a value choice that requires no permission, cannot be frozen, and is universally accepted.
This drop has washed away speculative bubbles but may leave behind the most steadfast believers. While the world is still scrambling for gold, Bitcoin quietly awaits the next moment of 'trust collapse'—when it may no longer be an asset but rather a way out.
