An analysis has emerged suggesting that Bitcoin is forming a different market structure from the past and reinforcing its position as 'digital gold.'

Cryptocurrency market analyst Vlad Anderson recently shared his view, stating, "Bitcoin is increasingly transforming into an asset similar to gold," and evaluated that "this could hold much more significance than the market thinks." He explained that while Bitcoin has long been perceived as a representative risk asset characterized by prolonged high volatility and emotional trading, the market environment has recently changed significantly.

In particular, as the expansion of spot ETFs, the inflow of funds from institutional investors such as pension funds and asset management firms, and the increase in long-term holders absorb the available supply, price volatility is gradually trending lower compared to the past. This assessment indicates that, unlike the short-term speculative trading driven by retail investors in the past, funds with a long-term investment nature, such as corporate capital, are flowing into the market in earnest, thereby transforming the investment structure itself.

Anderson cited stability and trust as the underlying factors that allowed gold to establish itself as one of the world's largest stores of value. He explained that a market worth trillions of dollars was formed because investors had the conviction to hold the asset for a long time. He projected that if Bitcoin also strengthens its stability while maintaining its scarcity and global accessibility, a new phase of expanded adoption could be achieved.

In the market, there are also cautious views that Bitcoin has not yet completely shed its character as a risk asset. This is because the possibility remains that price volatility could expand again depending on the global liquidity environment, interest rate policies, and regulatory changes. Nevertheless, the forecast is that if structural changes—such as the expansion of institutional investment, a decrease in supply, and an increase in the proportion of long-term holders—continue, the trend of Bitcoin being re-evaluated as a store of value beyond a mere speculative asset could persist. Moving forward, whether Bitcoin can secure stability similar to gold is cited as a key focal point for the market in 2026.

[※ The information provided in this article is intended to convey general cryptocurrency-related news and does not constitute a solicitation for investment or financial advice. Cryptocurrency is subject to high price volatility, and any losses incurred from investments are the responsibility of the investor. Please ensure careful consideration and seek professional advice before making investment decisions. This publication assumes no legal or financial responsibility for the information provided. This article was assisted in part by AI.]