Yuval Noah Harari stated that investors' choice of bitcoin is based on a progressive distrust of traditional public and financial institutions. There is still hope that civilization will be able to find a way to create institutions that deserve universal trust — instead of developing technologies focused on the opposite:
"Bitcoin is a currency of distrust, and I repeat what BTC fans themselves say. There may be good reasons not to trust banks and governments that create dollars, yen, and other currencies – but that doesn't change the fact that Bitcoin's preference is based on distrust of institutions."
In response, Michael Saylor, co-founder of MicroStrategy, noted that trustworthy institutions have already been created, and they are called bitcoin technologies. A similar point of view was expressed by the CEO of JAN3, Samson Mo, who drew the attention of the Israeli philosopher to the fact that only the first cryptocurrency provides trust at all levels of the financial digital system.
Earlier, financial expert and gold investment advocate Peter Schiff declared bitcoin a "dead cryptocurrency."