Bitcoin’s role in the global financial system is still misunderstood, says Lyn Alden—and much of that confusion stems from trying to fit it into outdated definitions of money.
“People argue that Bitcoin can’t be a medium of exchange because it’s not widely used in retail settings,” Alden explains. “But they overlook the fact that store-of-value usage nearly always comes first in the monetization of an asset.”
In a sweeping analysis of Bitcoin’s adoption path, Alden highlights its transition from a niche experiment to what she calls “portable capital.” Unlike fiat currencies or even gold, Bitcoin offers a unique combination of liquidity, divisibility, and sovereignty—all without relying on centralized infrastructure.
Alden argues that Bitcoin is already outperforming most national currencies in terms of cross-border salability. In her view, it now ranks among the top ten global bearer assets in terms of usefulness for international value transfer—an astounding feat for something launched just 16 years ago.
This growth, she says, is part of a long, necessary arc: “Bitcoin isn’t going to become ubiquitous money overnight. First, people hold it. Later, they may choose to spend it—once volatility and barriers like capital gains taxes are reduced.”
She also stresses that holding Bitcoin is, in itself, a form of monetary use. “It provides optionality,” Alden writes. “The ability to move wealth globally, without a credit intermediary, is a feature—not a flaw.”
For now, stablecoins may dominate short-term crypto payments. But Alden sees Bitcoin steadily expanding its role as a durable, apolitical store of value—and eventually, perhaps, much more.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-isnt-just-money-its-monetary-infrastructure-says-lyn-alden/