Is Bitcoin Dominance Falling?
"In this video, I discuss the problems with using a metric like "Bitcoin dominance" when analyzing Bitcoin's market share and adoption.
Bitcoin dominance is defined as Bitcoin's market cap as a percentage of the total crypto market cap.
But not only does the Bitcoin dominance index include centralized, premined proof of stake coins, but it also includes melting fiat ice cube USD stablecoins like USDT and USDC. There is no rational reason to group such disparate categories together in the same index.
Bitcoin dominance is also a very misleading metric because the basket of coins is constantly changing and includes a lot of survivorship bias.
A true Bitcoin dominance index would also take into account traditional stores of value assets like gold, stocks, and real estate that Bitcoin continues to steal market share from.
True decentralization (as only Bitcoin possesses) might not matter to investors today, but it will be critical going forward as nation-state attacks on crypto and Bitcoin escalate.
Only Bitcoin is neutral, anti-fragile money--
And as such, will continue to eat the world."