A claim has emerged that bitcoin already functions as money and could, over time, become less volatile than gold and even surpass it in market value. Saifedean Ammous, author of \"The Bitcoin Standard\", argued that limited use for payments does not mean bitcoin has failed as money, saying holding it is itself monetary use. The debate also features criticism from economist Lawrence H. White, who says bitcoin’s fixed supply fuels excessive volatility.

A reported case of an unauthorized component being inserted into a Ledger hardware wallet has reignited debate over how to store bitcoin. The industry is split over whether self-custody, in which individuals manage assets directly, is safer than holding bitcoin through spot exchange-traded funds run by custodians. The incident highlighted physical security and supply-chain trust issues. Supporters of ETFs cite reduced security burdens, while critics warn that concentrating assets with a few custodians could create new single points of failure.