Is Bitcoin Really Becoming a Macro Asset?

[Dr.Bitcoin_Strange]

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Is Bitcoin becoming more and more economy dependent, or is it just a short term trend that won't impact its long term value promise?

Bitcoin is not a short term trend. You can say that about some of the altcoins that were created more than eight years ago but are no longer alive in today's market, they were trending at some point after being created. Bitcoin, however, has gone mainstream, and the reason is that the majority of investors have now identified it as a safe asset.

Some investors are risk conscious and need confirmation from others before deciding to invest in an asset, and you can see that with the U.S. Bitcoin ETFs. You would agree with me that there were many first time Bitcoin investors who had never invested in Bitcoin before but, because of the ETFs, they believe that it is much safer to invest. Meanwhile, they could have invested in Bitcoin on their own even before the ETFs and would have made more profit.

Bitcoin is now an asset of interest to many people around the world. It's not just institutions that hold large amounts of Bitcoin, some governments do too.

[Iranus]

Bitcoin is originally designed as a decentralized currency, so I don't think it will be more economically dependent and act the same thing like fiat which is heavily dependent on public trust and government authority. Maybe we are seeing somehow that bitcoin is slowly getting affected by what's happening globally, but what we are seeing are just temporary impacts, not actually permanent effects.

Bitcoin is decentralized and of course, it's different from fiat. However, at the end of the day, it's still just a part of the global economy and financial market.

No matter how decentralized Bitcoin is designed to be, the people who hold and trade it are still human. And we're still affected by interest rates, liquidity, market sentiment...So like any other asset, the impact of the economy on Bitcoin isn't just temporary.

However, there is no certainty with bitcoin. It can be fully decentralized by now but possible changes are probably welcome especially if it seeks the long-term interest for bitcoin, not just as a currency, a commodity, but also as a store of value.

What changes are you referring to? The purpose and use cases of Bitcoin may change over time and depending on people's needs. But I'm certain that its decentralized nature will never change.

[Solokan]

Is Bitcoin becoming more and more economy dependent, or is it just a short term trend that won't impact its long term value promise?

This is not a sign of a change in the fundamental nature of Bitcoin, but rather a natural consequence of its widespread acceptance. Now that large institutions and public companies are in the market, news such as major company earnings reports will have an impact on the price in the short term but I don't think that the future of Bitcoin depends on central bank decisions.  To me the real power of Bitcoin is still in the same place. I see fluctuations in fiat prices or macro events, but I don't give them more importance than the main purpose of Bitcoin.

I also believe BTC will remain on the same fundamentals. Essentially, it will be in a safe position, although its price is currently influenced by these factors. However, I believe this is only temporary, as it appears BTC will have even greater potential in the future. I don't think there's any need to worry about BTC, as even though it's currently in a macro phase, those who hold BTC for the long term will likely still profit from their investment.

Given that BTC is not regulated by banks or governments, it will be difficult for it to fall. Therefore, I believe BTC is still safe, and it seems Satoshi's goal has great potential to be realized in the future.