Grayscale: Bitcoin resembles tech stocks more in the short term, and it must overcome volatility to become "digital gold."

The cryptocurrency asset management company Grayscale pointed out in its latest report that Bitcoin's recent drop to around $60,000 resembles a pullback of high-growth tech stocks rather than the safe-haven pattern familiar to gold investors. This indicates that Bitcoin still resembles an emerging technology asset rather than a mature store of value at this stage.

Although Bitcoin has characteristics such as a fixed supply and a decentralized network, it has only a 17-year history, which is far less than gold's thousands of years as a currency. Grayscale believes that the advancement of stablecoin and tokenized asset regulation, innovations in blockchain infrastructure, and the development of platforms like Ethereum, Solana, and Chainlink are expected to drive the next phase of adoption for Bitcoin and cryptocurrency assets. Meanwhile, if Bitcoin can address issues such as scalability, transaction fees, and quantum resistance, its volatility may decrease, its correlation with the stock market may weaken, and its future performance could be closer to "digital gold."