Bitcoin Compared With the Smartphone in CoinDesk Outlook

CoinDesk president of indices and data David LaValle said bitcoin may follow a path similar to the smartphone as a disruptive technology that becomes more useful over time. He made the comments on CNBC’s ETF Edge, arguing that the current downturn does not change the longterm case for the digital asset. The remarks come as bitcoin has weakened in recent weeks, falling nearly 2% over the holiday week and losing almost half of its value from its October 2025 peak. It also moved above $65,000 on Monday before slipping back toward $63,000 later in the week. LaValle said past crypto downturns have not ended investor interest, and he framed the latest selloff as a test of credibility rather than a signal that the asset has no future. TMX VettaFi’s Todd Rosenbluth said many ETF holders have continued to stay invested, while some financial advisors remain cautious and are waiting on the sidelines. Large bitcoin ETFs such as IBIT and GBTC have also posted steep declines over the past year.