I know as bitcoiners, we like to say BTC isnt a tech stock. However, the correlation between BTC and tech is obviously there. I don’t think there is any point in denying it (amongst ourselves).

But now that bitcoin & tech are both falling, do you think BTC will be caught by the commodity sector as tech continues to fall?

This board doesn’t focus on the price very much, but I think this does open up to a larger discussion about the classification of bitcoin.

IMO, some of the most prominent “bitcoin”/crypto companies have been exchanges which are largely just fin-tech companies like Coinbase and FTX. But things are changing fast, and we are well on our way to a recession. I’m expecting to see the mining sector start to play a larger role in the value-proposition of bitcoin, redefining it as a commodity.

Thoughts?