As Bitcoin reached an all-time high, discussions at the Web Summit Qatar 2024 spotlighted its journey toward becoming a first-class asset.

Bitcoin's volatility has historically led traditional investors to question its status as a first-class asset, typically characterized by stability, lower risk, and consistent returns, such as government bonds and blue-chip stocks. However, recent analysis reveals that despite its volatility, Bitcoin has experienced annual price declines in only four years since its inception in 2009, outpacing major fiat currencies like the USD in purchasing power, which have faced yearly inflation.

During the latest Web Summit Qatar, Gracy Chen, managing director of Bitget, and Silvina Moschini, founder of Unicoin, shed light on Bitcoin's evolution. Chen highlighted two pivotal moments contributing to Bitcoin's rise: the approval of a spot Bitcoin ETF by the SEC in January, signaling the entrance of institutional money into the crypto domain, and macroeconomic factors like anticipated interest rate cuts by the US Federal Reserve.

Moschini emphasized Bitcoin's widespread appeal across demographics, particularly among women in markets like Mexico, where they constitute the majority of crypto holders. This, coupled with Bitcoin's resilience and return profile, is instilling trust among investors, especially in developing countries facing significant fiat currency inflation.

Both speakers emphasized the crucial role of institutional investors, driven by regulatory advancements and product innovations like ETFs, in broadening Bitcoin's investor base. They also stressed the importance of diversification and prudent investment amidst the volatility of crypto markets. Moschini's venture, Unicoin, takes a regulated approach, backing its value with real assets to mitigate risk.

Furthermore, discussions highlighted the global shift in crypto dynamics towards Asia as a hub for blockchain innovation, with promising trends in tokenizing real-world assets and the emergence of regulated digital currencies. As Bitcoin continues to achieve milestones, its potential trajectory towards being recognized as a first-class asset is solidifying, signaling a new era for the sector.