'Bitcoin Failed', Says Ran Neuner, as Influencers Debate BTC’s Store-of-Value Thesis

In a 16 Feb post on X, Neuner wrote that when tariffs, currency tensions and fiscal instability hit, "this was the moment Bitcoin was supposed to behave like a store of value." Instead, he said, "capital ran to gold," despite the fact that institutions now have greater access to Bitcoin through spot ETFs and traditional brokerage accounts.

Store-of-value case

Neuner argued that the narrative case for Bitcoin has already shifted once, from "peer-to-peer electronic cash" to "digital gold" after the 2017 block size debate effectively ended the cash thesis. The store-of-value case, he said, became the industry’s unifying goal, culminating in ETF approvals and institutional adoption.

Now that Bitcoin is "in the system," Neuner suggested the energy that once drove the community has faded. In a YouTube video expanding on the thread, he said retail participation is near multi-year lows and even large-scale buyers such as Michael Saylor's firm Strategy, which continues to accumulate Bitcoin, have failed to sufficiently support its price.

Crypto influencers and long-time investors are grasping for clear explanations of how the assets they adore could have fared some poorly since October, especially after the massive support from the heart of the US federal government since January 2025. While Neuner is not alone in his pessimism, other longstanding advocates such as Skybridge Capital's Anthony Scaramucci continue to provide vocal support for the asset class – he has predicted a rebound from the current bear market to a new all-time high of $150k.

Kiyosaki's defiant tone

Separately, investor and author Robert Kiyosaki struck a defiant tone as Bitcoin pulled back. In a 21 Feb post on X, Kiyosaki said he had bought a bitcoin at $67,000 despite the recent price decline.

Kiyosaki said he expects what he called a "Big Print" if US debt pressures trigger renewed monetary stimulus, and argued that Bitcoin’s fixed supply, capped at 21mn, will ultimately make it "better than gold" once the final coin is mined. His comments stand in contrast to Neuner’s skepticism, reflecting a split among high-profile crypto advocates over how Bitcoin is behaving in the current macro cycle.

Neuner is the founder of Crypto Banter and a long-time Bitcoin advocate with a large retail following. His shift in tone is notable because he has spent years defending Bitcoin’s long-term thesis, making his public doubts significant for market sentiment.

The contrasting reactions from figures like Neuner and Kiyosaki underscore a broader mood shift among crypto influencers, with some questioning whether Bitcoin has fulfilled its store-of-value promise while others double down on long-term scarcity narratives after the latest price slide.