CNBC Host “Withdraws 12-Year Trust in Bitcoin”… Will Quantum Computers Bring About Its End?

▲ Quantum computer, Bitcoin (BTC), Bitcoin wallet/ChatGPT-generated image

A veteran trader who has remained in the market for 12 years has made a shocking declaration withdrawing his trust in Bitcoin, as criticism grows that Bitcoin (BTC) has lost its original essence of financial freedom and has devolved into an institutional Wall Street asset.

According to cryptocurrency outlet The Crypto Basic on February 17 (local time), CNBC Crypto Trader host Ran Neuner recently announced that he is officially withdrawing his long-held belief in Bitcoin. Neuner said that for the past 12 years he believed Bitcoin was a revolutionary asset standing against the traditional financial system, but now argues that its fundamental nature has been completely corrupted.

Neuner diagnosed that the approval of spot Bitcoin ETFs and the entry of major institutions have reduced Bitcoin to an ordinary Wall Street asset. He criticized that Bitcoin is no longer a currency of freedom beyond government control, but has instead become a tool for hedge fund arbitrage and portfolio management rules. In particular, he pointed out that the way institutions purchase Bitcoin and manage risk through the futures market is no different from typical stock trading.

Technological concerns that advances in quantum computing could undermine Bitcoin’s cryptographic security were also cited as a major reason for his withdrawal of trust. Neuner explained that following the unveiling of Google’s Willow chip, institutional investors began reassessing Bitcoin’s long-term security risks. “The revolution we tried to build is now gone. Bitcoin has simply become part of the system,” Neuner said, adding, “Bitcoin’s identity of resistance has disappeared.”

While Neuner did not deny the possibility of further price increases, he expressed deep disappointment over the loss of the asset’s philosophical value. He indicated that he plans to focus more on other cryptocurrency ecosystems that demonstrate technological innovation and real-world use cases rather than Bitcoin. He also suggested that as Bitcoin’s symbolism fades, the market’s center of gravity is shifting.

This declaration is reigniting the long-standing debate over whether Bitcoin, while gaining recognition as an asset, is losing its original revolutionary spirit. Attention is focused on how the veteran trader’s departure may affect investor sentiment going forward. Analysts say Bitcoin has achieved institutional adoption but now faces the dilemma of losing its distinctive identity in the process.

Disclaimer: This article is for investment reference only and we are not responsible for any losses arising from investment decisions based on it. The content should be interpreted for informational purposes only.