While the market remains divided The price of Bitcoin (BTC) in the short termone Wall Street analyst continues to stick to his bullish outlook. He predicts that Bitcoin will soon become a… price discoverywhich underlines its value, besides being a payment currency for an industry leader and one of the best performing assets that could eventually reach the market capitalization of gold.
Analyst remains bullish on Bitcoin despite price instability
In a recent interview with CNBC, William Blair fintech stock analyst Andrew Jeffrey said recent price swings don’t change his long-term conviction in the sector. The recovery and future value of Bitcoin. CNBC opened the discussion by pointing to crypto started the year stronger then in the fourth quarter of 2025, with an increase of around 5%, before giving back more than 2% after a sharp rally.
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When asked As for what happened beneath the surface of Bitcoin’s final moves, Jeffrey said the behavior reflects the nature of an immature asset. He explained that BTC is a market capitalization of more than $1.9 trillion. Yet roughly a third of the total supply is controlled by a small group of wallets, roughly estimated at 2 million.
This is what the Wall Street analyst reports supply concentration creates instability, especially during periods of market stress. He added that especially recent buyers private investors coming in through ETFstend to have weaker conviction and are more likely to sell during a recession.
According to Jeffrey, these sell-offs could feed on themselves, leading to sharper declines. He said the the current environment is generally not at riskbut emphasized that he sees this phase as temporary. The Wall Street analyst also emphasized his belief that Bitcoin will increasingly be seen as a… a store of value. He stated that BTC could ultimately challenge gold’s role in that category and move closer to the precious metal’s market cap, which is currently about 15x larger than Bitcoin’s today.
While he is optimistic about Bitcoin’s prospects, Jeffrey made it clear that he does not see Bitcoin becoming a dominant payment instrument. Instead, he declared that stablecoins are fun Circle’s USDC are more suitable for transactions. The analyst emphasized that price discovery is still ongoing and BTC’s long-term potential remains intact despite the recent market turbulence.
Bitcoin still needs to lead for crypto to rise
In the interview, Jeffrey spoke to CNBC about the waning excitement surrounding Bitcoin as newer crypto stories gain attention. CNBC expressed concern that BTC feels like old news as prices fluctuate and interest rates shift to more interesting news surrounding companies like Ripple.
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Jeffrey responded that Bitcoin’s short-term price action is driven by investor psychology, while its long-term performance tells a different story. He emphasized that Bitcoin has been the best-performing asset in the world over the past decade and said investors should maintain that perspective.
CNBC also wondered whether crypto growth could now happen without Bitcoin taking the lead. The Wall Street analyst responded that it would be very difficult for the crypto market to see sustained gains without BTC at the forefront.
Featured image created with Dall.E, chart from Tradingview.com