It’s a common question: Is bitcoin (BTC) a store of value? While proponents say, “Yes” without hesitation, skeptics note its historically large drawdowns. And that’s fair. Not long ago, in November 2021, bitcoin reached nearly $70,000 but is now around $20,000. That said, BTC also used to trade below 1 cent so, using just prices, the answer to the initial question is, “It’s hard to tell.”
Source: https://www.coindesk.com/markets/2023/03/15/evaluating-bitcoin-as-a-store-of-value/?utm_medium=referral&utm_source=rss&utm_campaign=headlines