According to Markus Thielen, the founder of 10x Research, the hype surrounding Bitcoin as a long-term investment may not be as significant as it is portrayed in the media. While many people have jumped on the Bitcoin bandwagon, believing it to be a lucrative and secure investment, Thielen suggests that the demand for Bitcoin as a long-term asset may not be as high as we think.

Thielen’s statement comes at a time when Bitcoin has been making headlines for its record-breaking price surge. With its value reaching an all-time high of over $60,000, many investors have been flocking to the cryptocurrency in hopes of making a quick profit. However, Thielen believes that this demand may not be sustainable in the long run.

In an interview with 10x Research, Thielen explains that while Bitcoin has gained popularity as a speculative asset, its use as a long-term investment may not be as widespread. He argues that the media’s portrayal of Bitcoin as a must-have asset for long-term investment may be exaggerated, and the actual demand for it may be significantly smaller.

Thielen’s research suggests that the majority of Bitcoin holders are short-term investors, looking to capitalize on its volatile nature and make a quick profit. This trend is further supported by the fact that Bitcoin’s average holding period has decreased from over 3 years to just 17 months in recent years.

While Bitcoin has proven to be a profitable investment for many, Thielen’s insights shed light on the potential risks associated with investing in the cryptocurrency. As with any investment, it is crucial to do thorough research and understand the market before making any decisions.

In conclusion, while Bitcoin may continue to dominate headlines and attract short-term investors, its demand as a long-term asset may not be as significant as we think. Thielen’s research serves as a reminder to approach Bitcoin and other cryptocurrencies with caution and to not get swept up in the hype without fully understanding the risks involved.