Bernstein Says Bitcoin’s ‘Store Of Value’ Thesis Remains Intact

CryptoProwl

Mon, June 8, 2026 astatine 8:54 AM CDT 2 min read

Analysts astatine Wall Street brokerage Bernstein accidental Bitcoin's (CRYPTO: $BTC) "store of value" thesis remains intact contempt the downturn successful the largest cryptocurrency by marketplace capitalization. 

In a caller report, analysts astatine Bernstein accidental that the semipermanent store-of-value thesis for Bitcoin is unchanged contempt a slower superior allocation rhythm and a simplification successful retail capitalist activity. 

The study notes that nett inflows into spot Bitcoin exchange-traded funds (ETFs) and treasury companies this twelvemonth basal astatine $12 cardinal U.S. compared with $60 cardinal U.S. successful 2025.

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However, ETFs relationship for lone astir $2.6 cardinal U.S. successful nett outflows this year, meaning that astir of the selling has been driven by crypto treasury companies throwing successful the towel.

"In a marketplace wholly dominated by retail's obsession with AI, specified $2.6 cardinal outflows YTD are astir encouraging," reads the Bernstein report. 

"Bitcoin being boring this rhythm should not beryllium held against it and does not instrumentality distant from the agelong word 'store of value' thesis, successful our view," adds the brokerage. 

Like different analysts, Bernstein blames the existent selloff successful cryptocurrencies mostly connected investors shifting superior into stocks associated with the artificial quality (A.I.) trade. 

Bitcoin is presently trading close astir $63,000 U.S. but remains 50% beneath its all-time precocious of $126,000 U.S. reached past October.

The benchmark cryptocurrency fell to its lowest level successful much than 2 months connected June 5, pressured by continued outflows from spot Bitcoin ETFs and macroeconomic uncertainty.

The SpaceX archetypal nationalist offering (IPO) that's taking spot connected June 12 is besides drafting a batch of involvement from investors, peculiarly the retail crowd, further hurting integer assets. 

Bernstein is privately held and its banal doesn't commercialized connected a nationalist exchange.