There's an interesting shift happening in how the market perceives Bitcoin's role. Before 2025, BTC was increasingly viewed as an alternative to traditional currency—a potential hedge against fiat money supply expansion. The narrative was building steadily.

But the dynamics changed. Now Bitcoin is being priced more as a USA-backed asset, one that benefits from political support and institutional backing. The inflow of capital from major stakeholders has reshaped market sentiment significantly.

This raises a question worth pondering: would Bitcoin actually perform better if it operated without that political tailwind? The independence and decentralization narrative—which originally defined crypto—sometimes clashes with becoming too closely tied to geopolitical interests. When an asset gets positioned as country-specific rather than currency-neutral, it shifts the entire risk profile and appeal for global participants.