#Bitcoin is widely misunderstood because it is evaluated using the wrong framework.
Most financial advisors and wealth managers analyse Bitcoin as if it were an equity, a commodity, or a speculative risk asset. It is none of those.
Bitcoin is a monetary system.
Equities are claims on future cash flows.
Commodities are inputs to production.
Currencies are liabilities issued by states and managed through policy.
Bitcoin is different. It has no issuer, no balance sheet, no management team, and no cash flow because money is not supposed to produce yield. Its function is to store value, measure value, and transfer value without reliance on trust or discretion.
This is where the confusion starts.
When advisors ask:
– “Where is the income?”
– “What’s the intrinsic value?”
– “How does it compound?”
They are asking questions appropriate for businesses, not for money.
Bitcoin’s value comes from its rules:
– Fixed supply
– Predictable issuance
– Verifiable scarcity
– Censorship resistance
These properties remove dilution risk and counterparty risk. Over time, that matters more than narratives, models, or opinions.
Bitcoin does not replace productive assets.
It replaces the measuring stick used to evaluate them.
Until Bitcoin is understood as money rather than an investment product, it will continue to be misunderstood — even by professionals paid to allocate capital.
That misunderstanding is not a flaw in Bitcoin.
It is evidence that the transition is still early.
Most financial advisors and wealth managers analyse Bitcoin as if it were an equity, a commodity, or a speculative risk asset. It is none of those.
Bitcoin is a monetary system.
Equities are claims on future cash flows.
Commodities are inputs to production.
Currencies are liabilities issued by states and managed through policy.
Bitcoin is different. It has no issuer, no balance sheet, no management team, and no cash flow because money is not supposed to produce yield. Its function is to store value, measure value, and transfer value without reliance on trust or discretion.
This is where the confusion starts.
When advisors ask:
– “Where is the income?”
– “What’s the intrinsic value?”
– “How does it compound?”
They are asking questions appropriate for businesses, not for money.
Bitcoin’s value comes from its rules:
– Fixed supply
– Predictable issuance
– Verifiable scarcity
– Censorship resistance
These properties remove dilution risk and counterparty risk. Over time, that matters more than narratives, models, or opinions.
Bitcoin does not replace productive assets.
It replaces the measuring stick used to evaluate them.
Until Bitcoin is understood as money rather than an investment product, it will continue to be misunderstood — even by professionals paid to allocate capital.
That misunderstanding is not a flaw in Bitcoin.
It is evidence that the transition is still early.