A veteran trader ignited fresh controversy, declaring Bitcoin is “just an asset” and warning that those who believe it will solve all their problems will be greatly disappointed.
Peter Brandt’s post on X, suggesting people with a certain ideology about Bitcoin to “get a life,” triggered a flurry of responses, with some defending Bitcoin as more than a financial tool.
Peter Brandt Challenges Emotional Ties to Bitcoin
Brandt expressed frustration with the way some people attach personal or ideological hopes to Bitcoin. His message aimed at those who see Bitcoin as more than a tool for investment, but rather as a symbol of freedom or change.
Notably, this is not the first time the financial expert has drawn this warning. In December, Brandt pointed out that Bitcoin’s ability to generate massive returns has declined sharply over the years.
He warned that younger investors hoping to get rich from the asset may be disappointed, as past bull cycles show a clear drop in gains. While he still sees Bitcoin as a hedge against fiat currencies, Brandt believes its days of exponential growth are likely behind it.
Michael Saylor and Other Community Members Defend Bitcoin’s Deeper Meaning
However, several members of the crypto community disagreed with Brandt’s commentary. For instance, Strategy chairman Michael Saylor described Bitcoin as more than just a financial asset. He stressed its role as a circulating system built on protocol and guided by a core ideology.
Bitcoin is an asset, circulating on a network, governed by a protocol, and rooted in ideology.
— Michael Saylor (@saylor) August 6, 2025
Meanwhile, a commenter, Marcelo Cardenal, was among those who described Bitcoin as more than just a financial tool, framing it as part of a broader mindset centered on personal accountability and financial freedom.
Also, a pseudonymous commenter, Chicago Hodl, argued that the traditional fiat system operates much like a belief system itself, and that Bitcoin offers an alternative to centralized monetary control.
Matt, another contributor to the discussion, suggested that Bitcoin represents a kind of monetary reformation. Meanwhile, Robby highlighted how deeply belief-driven systems, including religion, can influence people, and suggested that Bitcoin’s future, with price reaching $100 million, might depend on similar collective conviction.
Peter Brandt Predicted Bitcoin’s Current Move Since January
Notably, back in January, Brandt predicted that Bitcoin would likely face its next major correction in August, based on historical price patterns.
So far, his forecast appears to be playing out. After reaching a new all-time high in July, Bitcoin has since pulled back and is now trading below that peak at $113,919, aligning with the timeframe Brandt outlined earlier this year.
Last month, however, Brandt turned bullish on Bitcoin, predicting further upside after the crypto asset broke above an expanding inverted triangle pattern. Brandt forecasted a continued climb, with targets at $120,956 and $134,886.
Meanwhile, the first target was breached on July 14 when Bitcoin traded above $123,000, its all-time high. Notably, Brandt still maintained his long-standing prediction of a $150,000 peak possibly arriving by August, though he warns that downside risks remain.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
