Bitcoin a tech trade for now, not digital gold, says Grayscale

[Oshosondy]

Read the news from: https://www.coindesk.com/markets/2026/02/10/bitcoin-a-tech-trade-for-now-not-digital-gold-says-grayscale

Grayscale said bitcoin’s recent slump tracked high-growth tech stocks, underscoring its role as a growth asset in the short term.

Long term, the crypto's scarcity and resilience still support the digital gold thesis, but it hasn’t earned that status yet.

But this is not something that is new to us on this forum, we have posted countless numbers of times that bitcoin is a store of value if you can hold it for a long period of time.

And it will surprise people as this 4 year cycle will gradually fade but it will take a long period of time but the magnitude will diminished more in each 4 year.

[logfiles]

I wonder what people who held their Bitcoins all the way from let's say $1,000 per BTC 10 years ago would have to comment about what Greyscale said. They just joined the rally and one cycle down the road, it's not digital gold? 
One thing I also learnt is if one is to enjoy the real store of value that people keep buzzing about, we have to look at it in terms of a decade from now and not just a couple of years and the worst thing is these people keep comparing BTC to Gold that just performed well recently. Why don't they compare Bitcoin's 17 years vs Gold's 17 years?

[EluguHcman]

But this is not something that is new to us on this forum, we have posted countless numbers of times that bitcoin is a store of value if you can hold it for a long period of time.

And it will surprise people as this 4 year cycle will gradually fade but it will take a long period of time but the magnitude will diminished more in each 4 year.

Bitcoin had been oversighted to be long term investment asset due to its unpredictable volatility and while we may analyze the market performance, the margins between the halving and the bull events, it is obvious that it had kept a hold of 4 years distance which concurrently had been repeated to be traditional cycle.

So it is not a new lesson to the experienced ones like to users of the forum that Bitcoin is a hold of digital asset potential to store values in the long term.
It is also commonly discussed here about the risk of trading or investing in Bitcoin with the hope to get right quickly over a short time being extremely unpredictable to succeed it in the short time.

The four years event cycle could actually be compromised while price attributes may justly depend on buying and selling pressures while halving events may not be active to the 4 years cycle going.

[bbc.reporter]

It might not also be a tech trade for others presently because this bitcoin mining company Cango has dumped their bitcoin to gather money to reposition their business to artificial intelligence heheeh. There are more of these types of stories recently where miners are transferring their businesses to AI.



Bitcoin miner Cango (CANG) completed the sale 4,451 BTC over the weekend, raising roughly $305 million in USDT as it looks to reduce leverage and reposition its business around artificial intelligence infrastructure.

The company said it raised $305 million from the sale, suggesting an average sale price of about $68,524 per coin, or not far above multi-year low prices for bitcoin.

Read in full https://www.coindesk.com/markets/2026/02/09/bitcoin-miner-cango-sells-usd305-million-of-btc-during-market-slump-to-fund-ai-shift

[DPHOR]

I wonder what people who held their Bitcoins all the way from let's say $1,000 per BTC 10 years ago would have to comment about what Greyscale said. They just joined the rally and one cycle down the road, it's not digital gold? 
One thing I also learnt is if one is to enjoy the real store of value that people keep buzzing about, we have to look at it in terms of a decade from now and not just a couple of years and the worst thing is these people keep comparing BTC to Gold that just performed well recently. Why don't they compare Bitcoin's 17 years vs Gold's 17 years?

They are yet to really understand the concepts of bitcoin and also knowing where it is projecting to, they only have a short term investment plan that is why they are always comparing bitcoin with Gold, and of course for you to benefits from bitcoin they must have long time projection just as you said and not just a cycle which they may not possibly get the returns they are even looking at. Maybe who knows if they ventured into the market when it was too higher for them and now that bitcoin has drop significantly they are actually finding it very difficulty to scale through with the price.

[yhiaali3]

Of course, it's no surprise to us in the Bitcoin community that Bitcoin is digital gold. Grayscale's statement that "the scarcity and flexibility of the cryptocurrency support the digital gold hypothesis, but it hasn't reached that status yet" is unfair, considering that gold is thousands of years old while Bitcoin is only 17 years old.

If we look at it from this perspective, we'll see that Bitcoin has indeed surpassed gold. No other asset has achieved what Bitcoin has in such a short period.

[dansus021]

Grayscale hmmm I dont know about this company really. Back then Grayscale is one of asset management fund that push adoption of ETF, If I dont mistaken they made their first ETF before SEC is approved but after SEC approved everything Grayscale is of course one company that made huge sell off and one of the reason is Most people are selling because Grayscale’s fee is 1.50%. Rivals like BlackRock (IBIT) or Fidelity (FBTC) are way cheaper (around 0.20%).

So in my opinion, it doesn't matter if they said "Bitcoin is not digital gold " in the long term I'm still said that Bitcoin is act like a digital gold because if we are look a bigger picture we goona see it.

[ancafe]

But this is not something that is new to us on this forum, we have posted countless numbers of times that bitcoin is a store of value if you can hold it for a long period of time.

And it will surprise people as this 4 year cycle will gradually fade but it will take a long period of time but the magnitude will diminished more in each 4 year.

I still see the relevance of the four-year cycle in Bitcoin's journey and based on Bitcoin's current performance, which may be experiencing a significant decline, similar events occurred in previous cycles. Bitcoin is clearly a store of value when connected to a long-term concept, although in the short term, this asset is considered speculative and not as safe as gold. If you want to view Bitcoin as a store of value, this can refer to the concept of holding which requires a long period of time and from there we will discover the true meaning of storing value. The thesis on digital gold is seen from which perspective so we can focus more on finding out and how the relationship can achieve the same meaning.

[Don Pedro Dinero]

Read the news from: https://www.coindesk.com/markets/2026/02/10/bitcoin-a-tech-trade-for-now-not-digital-gold-says-grayscale

Grayscale said bitcoin’s recent slump tracked high-growth tech stocks, underscoring its role as a growth asset in the short term.

Long term, the crypto's scarcity and resilience still support the digital gold thesis, but it hasn’t earned that status yet.

They don't seem to be the smartest people around; this has been going on for years, at least four years, not just since now.

In the first decade of bitcoin, when the price of gold remained more or less flat and the price of bitcoin skyrocketed, the narrative of digital gold spread because bitcoin was the most profitable investment. But in recent years, we have seen the price of bitcoin behave like a leveraged tech fund, falling more than the Nasdaq 100 when there was market turbulence, while gold remained stable or rose.

That's okay. Besides, if we had a first decade with one type of behavior, and then five years in which both assets behaved differently, we don't know how things will evolve going forward either.

[shinratensei_]

Everybody is free to have their own opinion regarding bitcoin but I will stick with my belief that bitcoin is store of value and i'm sure any OG bitcoin holders know this.
Seeing the price, it does resemble tech trade but long term price, it has been going up every cycle and always making higher low. In this case, I think Grayscale just want to warn people about the risk of volatility and simplifying it by calling it a tech trade.

[Moreno233]

This is a soft way Grayscale is voicing their frustration with the crash of the price of Bitcoin. If we put ourselves in their shoes, we will understand what they are going through right now. They have not had the experience of watching their portfolio deplete by 50% so first experience could be scary. Assuming they have the type of confidence MicroStrategy have, they would have been buying more now instead of expressing pessimism like they are doing. Bitcoin will definitely bounce back with time like it has always done in the past. 

[letteredhub]

Read the news from: https://www.coindesk.com/markets/2026/02/10/bitcoin-a-tech-trade-for-now-not-digital-gold-says-grayscale

Grayscale said bitcoin’s recent slump tracked high-growth tech stocks, underscoring its role as a growth asset in the short term.

Long term, the crypto's scarcity and resilience still support the digital gold thesis, but it hasn’t earned that status yet.

But this is not something that is new to us on this forum, we have posted countless numbers of times that bitcoin is a store of value if you can hold it for a long period of time.

But, isn't that what it is? Bitcoin has proven to be a store of added value when we hold it for long term and it's that prove that has made us to conveniently and confidently share posts about it.

No intelligently rich guy would want to put his penny where there's no value and, so what baffles me is how these guys would either try to discredit bitcoin or coin it to some kind of a downplayed logic but still end up as adaptors.

[Charles-Tim]

Everybody is free to have their own opinion regarding bitcoin but I will stick with my belief that bitcoin is store of value and i'm sure any OG bitcoin holders know this.

This is what Grayscale also meant if it is long term. But in short term, that bitcoin is not like the metals like Gold. This is also we know on this forum, bitcoin price will get to all-time high as usual if it is long term.

This is a soft way Grayscale is voicing their frustration with the crash of the price of Bitcoin.

Are you sure about this? They are only making profit from their customers is all that I know about Grayscale. Although, probably the profit will be more during bull run.

[Frankolala]

A store of value overtime doesn't mean that it's a safe haven like gold, I think that's the message here. However, bitcoin is still in her early stage and a speculative asset due to her volatile nature. But that doesn't mean that you should miss out the opportunity to pile up bitcoin for the future because that's when you will benefit from bitcoin if you hold it for long.