Jimmy Wales Warns Bitcoin Is Far From Working as Money or Store of Value
Jimmy Wales, co-founder of Wikipedia, delivered a stark assessment of Bitcoin on Friday, saying the original cryptocurrency will likely endure as a network but remains distant from fulfilling core monetary roles or serving reliably as a store of value. Wales’ comments reflect long-standing critiques around volatility, limited everyday usability, and the gap between narrative and practical money-like behavior.
The significance is both symbolic and practical: a well-known technology figure voicing skepticism can influence public perception and investor sentiment, especially as BTC faces macro pressures and regulatory scrutiny. For traders and long-term holders, Wales’ view is a reminder that broader adoption still hinges on stability, clearer on-ramps, and institutional integration. Watch price reaction, flows into regulated products, and policy signals as near-term indicators of whether that skepticism will affect market momentum.