According to Jack Dorsey, BTC is not crypto, BTC is money, as stated on X on Oct 19, 2025, highlighting a Bitcoin-first framing that directly targets monetary use over broader crypto utility narratives. Source: Jack Dorsey on X. For traders, this aligns with Block, Inc.’s ongoing corporate exposure to BTC and Bitcoin-focused initiatives, which signal sustained institutional-level conviction behind the asset’s monetary thesis. Source: Block, Inc. shareholder letters and product announcements (2023–2024). To validate any rotation toward a Bitcoin-first trade, market participants typically track BTC dominance (BTC.D), U.S. spot BTC ETF net flows, and spot-futures basis to gauge whether demand and liquidity are improving. Source: TradingView BTC.D; Farside Investors spot Bitcoin ETF flow tracker; derivatives market dashboards from major venues. Narrative support alone does not move price without confirming flows and market structure; traders often wait for positive net ETF inflows and an uptrend in BTC.D before increasing BTC overweights relative to altcoins. Source: Farside Investors ETF flow data; TradingView BTC.D.

According to @Excellion, the Bitcoin community is splitting between participants focused on applied cryptography use cases and those prioritizing Bitcoin as money, creating two distinct narratives that can shape trading frameworks and risk assessment, source: Samson Mow (@Excellion) on X, September 1, 2025, https://twitter.com/Excellion/status/1962368371606933857. Traders can map catalysts, sentiment, and positioning to these two narratives when evaluating BTC exposure and strategy execution, aligning analysis with whether developments emphasize cryptographic experimentation or monetary adoption, source: Samson Mow (@Excellion) on X, September 1, 2025, https://twitter.com/Excellion/status/1962368371606933857.

According to Charles Edwards (@caprioleio), the argument that Bitcoin (BTC) is 'too volatile' or 'just speculation' overlooks a crucial point in its adoption cycle. For Bitcoin to evolve into 'real money' for daily transactions, it must first achieve a market capitalization of $10 trillion to $20 trillion. Edwards asserts that the only way to reach this valuation is through a period of massive volatility, which facilitates its acquisition by early adopters. This volatility is therefore not a flaw but a necessary phase on the path to becoming a high-market-cap, stable asset.