Gerber Doubts Bitcoin's Real-World Utility

Ross Gerber, an investment advisor, has questioned the real-world utility of Bitcoin. He argues that gold remains easier to use in many places despite years of promises about cryptocurrency's potential as a global payment and monetary system.

Gerber made these comments on X while responding to a discussion about Bitcoin's use cases. He noted that the crypto industry has yet to build anything that provides meaningful value, saying 'Probably easier to use gold than bitcoin in most places still.'

The investor also raised concerns about the direction of the Bitcoin mining industry. He pointed out that several major Bitcoin miners are increasingly turning toward artificial intelligence infrastructure and selling computing capacity for AI workloads rather than focusing exclusively on cryptocurrency mining.

Gerber has been critical of Bitcoin and Michael Saylor, Strategy's executive chairman, in recent months. In August, he stated that Saylor's aggressive advocacy for Bitcoin was making him less enthusiastic about the cryptocurrency. He had previously criticized Saylor over Strategy's decision to sell 32 BTC in April.