Bitcoin has already won; other cryptocurrencies will follow but not as hard money”: Scott Melker
For analyst Scott Melker, bitcoin has already established itself as a store of value and no other project can compete with it.
Scott Melker, a recognized analyst of the ecosystem and host of the podcast The Wolf of All Streets, stated that the debate between bitcoin (BTC) and the cryptocurrencies called altcoins is resolved. “Bitcoin has already won the battle for being hard money,” he concluded in a post.
According to the commentator, the global market has already understood bitcoin's role as a store of value. Therefore, he argues that maximalists should not continue to worry about ether (ETH) or the rest of the altcoins (a term used to refer to all crypto assets excluding BTC).
“The world understands that [bitcoin] is superior and completely different,” he stated. In his opinion, the rest of the projects may have space in other niches, something he has no doubt will happen, but they will not compete with BTC as a monetary reference. “They are different classes of assets,” he concluded.
With this, Melker suggests that altcoins could gain adoption for reasons different from those driving bitcoin. While BTC stands out as a store of value due to its limited supply —only 21 million units will ever exist— and resistance to censorship, other cryptocurrencies may find a place in sectors such as application development, token creation, or experimentation with decentralized governance models.
The truth is that, by 2025, the adoption of bitcoin by corporations and governments has strengthened its position as a treasury asset and strategic reserve. Companies like Strategy have led this trend, accumulating approximately 628,791 BTC to date, according to data from Bitcoin Treasuries, while Metaplanet, the firm with the largest amount of BTC in Asia, holds 17,132 units.
