Bitcoin as revolutionary as smartphone, according to CoinDesk

Bitcoin has been experiencing a rough patch lately, with the cryptocurrency down almost 50% since its all-time high in 2025. Despite this downturn, David LaValle, CoinDesk’s president of indices and data, remains optimistic about the future of bitcoin.

LaValle compares the evolution of bitcoin to the adoption of smartphones, emphasizing that disruptive technologies often face challenges before becoming widely accepted. He believes that the current market conditions are not a deterrent for institutional and retail investors, but rather a point of credibility for the digital asset.

Todd Rosenbluth, TMX VettaFi’s head of research and editorial, shares LaValle’s optimism, noting a promising trend among bitcoin ETF investors. Despite market uncertainty, investors are holding onto their positions, with some even buying more during the downturn. Rosenbluth highlights a VettaFi survey of financial advisors, which shows a growing interest in digital assets among clients.

However, the losses in the bitcoin market have impacted some of the largest bitcoin ETFs, such as the iShares Bitcoin Trust ETF and the Grayscale Bitcoin Trust ETF. These ETFs have seen a significant decline in value over the past year.

Overall, while bitcoin may be facing challenges in the short term, both LaValle and Rosenbluth remain confident in its long-term potential. As the digital asset market continues to evolve, there is a growing interest and demand for cryptocurrencies among investors.

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