What Distinguishes Bitcoin from Other Cryptocurrencies?
A recent post by Jack Dorsey prompts discussion on Bitcoin's unique status apart from the broader crypto landscape.
What Distinguishes Bitcoin from Other Cryptocurrencies?
An X post from Jack Dorsey reignited a classic debate: Is Bitcoin merely part of “crypto,” or does it occupy a unique niche?
On October 19, 2025, Jack Dorsey shared on X: “bitcoin is not crypto.” This statement garnered substantial attention on social media and significant coverage in various media outlets. Dorsey believes that Bitcoin should be perceived as a form of money, possessing its own governance and historical context, rather than being lumped together with the wider array of tokens in the market.
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Source: Jack Dorsey
Dorsey contends that Bitcoin (BTC) merits a distinct classification. It was launched without a centralized foundation or initial coin offering and is carefully managed. Its design serves primarily for transactions and savings, distinguishing it from other platforms which often prioritize versatility and rapid evolution.
Fixed Rules vs. Flexible Policies: Monetary Strategies
Bitcoin’s supply follows a predefined schedule of issuance, in contrast to many blockchain networks that offer adjustable monetary policies. New coins emerge as block rewards, an occurrence that approximately halves every 210,000 blocks until the supply caps at 21 million BTC. The most recent halving, which took place on April 2024, reduced the reward per block to 3.125 BTC.
In contrast, many networks treat monetary policy as a choice of design. For instance, Ethereum’s EIP 1559 introduced a mechanism that decreases overall issuance during periods of high demand.
Comparing Security Models: Proof of Work vs. Proof of Stake
The approach taken by various blockchains for securing themselves influences all other aspects. Bitcoin employs a model where miners expend energy to add blocks, supplemented by minimalistic regulatory rules. On the other hand, proof-of-stake systems compensate stakeholders who validate blocks, allowing for rapid updates and enhancements.
Bitcoin maintains a focus on stability and security while most proof-of-stake platforms favor higher transaction speeds and frequent updates.
Governance Dynamics: Sluggish Evolution vs. Rapid Optimization
Modification of the rules of Bitcoin occurs cautiously and gradually, with significant community consensus required. In contrast, chains centered on applications like Ethereum speedily adapt to introduce features and improvements.
Market Perception: Bitcoin in its Own League
Recent trends indicate that institutions view Bitcoin very differently from other cryptocurrencies. Recently, regulatory approval allowed the trading of Bitcoin exchange-traded products (ETPs) on major U.S. exchanges, marking a significant step towards mainstream acceptance.
Taken collectively, these factors support Jack Dorsey’s assertion that “bitcoin is not crypto.” Markets have effectively categorized it as a distinct asset class.
