Experts analyzing global virtual asset policies and markets gathered to evaluate the value of Bitcoin as a financial instrument and forecast the future of the virtual asset market. Experts unanimously noted that Bitcoin's utility as a value storage tool is exceptional. Regarding investments, advice was given to approach with a long-term perspective.
The final session of the '2025 CHOSUNBIZ Virtual Asset Conference,' held on the 16th at the Westin Chosun Hotel in Jung-gu, Seoul, was conducted as a panel discussion. The panel discussion, themed 'Can Bitcoin be the next-generation currency?' was led by Professor Lee Jung-soo from Seoul National University Law School. Professor Lee is also a Commissioner of the virtual asset committee under the Financial Services Commission.
Panelists included Goran Algorand, head of the YouTube channel, Kim Gap-rae, senior researcher at the Capital Market Research Institute, and Joo Gi-young, head of CryptoQuant, sharing their insights.
The first topic raised in the discussion was whether 'Bitcoin can function as a currency.' The panelists agreed that there is no doubt about Bitcoin's status as a value storage tool. However, opinions diverged on whether it could serve as a medium of exchange.
Goran noted, 'Many people say that there is no better value storage tool than Bitcoin, but currently, Bitcoin is not used as a payment method.' In contrast, Commissioner Kim argued, 'When blockchain networks become widely used in the future, various exchange means based on Bitcoin could be activated.' However, Commissioner Kim added, 'Currently, there are technical and institutional constraints to using Bitcoin as a currency.'
Next, Professor Lee asked about the coexistence of Bitcoin and stablecoins (virtual assets linked to fiat currencies). The panelists agreed that Bitcoin and stablecoins will coexist for various purposes in the future.
Commissioner Kim stated, 'Six states in the U.S. are stockpiling Bitcoin,' noting, 'Bitcoin is establishing itself as a value storage tool, and in the future, stablecoins will take on the role of exchange functions, suggesting that their roles may become divided.' Joo also assessed, 'As global trust in the U.S. dollar declines, the U.S. can curb rising national debt through Bitcoin stockpiling,' and that 'Bitcoin and stablecoins can create synergy.'
Discussions also continued on the outlook for the virtual asset market, which attendees were most curious about. The panelists highly evaluated the potential for Bitcoin price increases and recommended long-term investments.
Goran suggested, 'If you partition your investment into 80% for long-term investments and 20% for timing your investments at low points to target short-term revenue, you will not fail in your investments.' Joo noted, 'Considering the past decade, the emergence of Bitcoin spot exchange-traded funds (ETFs) and regulatory alleviation indicate a positive market outlook.' He continued, 'With the current price of nearly $100,000 per Bitcoin, there could be adjustments closer to 30%, but considering market demand, prices could rise to between $200,000 and $300,000.'