Bitcoin Skepticism to Persist Even at Multi-Million Dollar Valuations, Says Adviser

Skepticism around Bitcoin long-term potential remains strong and will likely persist even if the cryptocurrency climbs into the millions, according to Bitcoin Adviser’s Luke Broyles. Speaking on Natalie Brunell’s Coin Stories podcast on Friday, Broyles noted that doubt has shadowed BTC throughout its history, with critics questioning its staying power at every major milestone. “I think it’s going to be that way for a very long time,” Broyles said. “I think Bitcoin will be at $5 million, $10 million or more, and people will still be saying, ‘Yeah, well it’s 8% of world assets now. It can’t go any higher, right?’” This year alone, BTC has broken multiple records, reaching a new all-time high of $124,128 on August 14, according to CoinMarketCap, before retreating to $109,290 at the time of writing. Each surge has been met with doubt, while every correction has fueled claims that Bitcoin may never recover. Psychological Barriers Remain Strong Broyles argued that the biggest challenge to widespread Bitcoin adoption is not technical but psychological. Despite growing mainstream visibility, he believes most people still fail to see how BTC could enhance their daily lives. “Unfortunately, I don’t think a lot of people will make that switch until they see that,” he explained, stressing that the transformation will take an “exceedingly long period of time.” His comments echo the broader trend of skepticism in financial markets, where BTC volatility has made both critics and cautious investors hesitant to fully embrace the asset. This hesitation is reinforced by surveys suggesting a lack of basic understanding of cryptocurrencies. An August 2024 report by Australian exchange Swyftx found that 43% of more than 2,200 respondents had not engaged with crypto simply because they were unsure how it works. Real Estate Integration Could Drive Bitcoin Adoption While convincing skeptics to invest small amounts over time may be difficult, Broyles sees greater potential in integrating Bitcoin with real estate loans . “Is it going to be harder to convince somebody who’s skeptical to buy $1,000 of BTC for the next 200 months? Or is it going to be, ‘Hey, you can refinance your home and convert this equity into Bitcoin?’” he asked. He suggested that such a development could “blow people’s minds,” making BTC not just an investment asset but a tool for real-world financial applications. If realized, this type of integration could accelerate adoption far more effectively than traditional persuasion. The post Bitcoin Skepticism to Persist Even at Multi-Million Dollar Valuations, Says Adviser appeared first on TheCoinrise.com .