In this Cointelegraph interview, Ran Neuner, a longtime voice in the crypto space, openly questions Bitcoin’s core narrative— as he admits he struggles to answer one simple question: why should people buy it?

“I don’t know how to answer that question. That’s the problem.”

Once pitched as peer-to-peer money and later reframed as digital gold, Bitcoin’s identity has become harder to define in practice, he argues, especially after failing to move in tandem with traditional store-of-value assets like gold in the last cycle.

“And so the biggest crisis that I have at the moment,” he said, “is justifying to myself what Bitcoin is and where Bitcoin derives its value from.”

That fundamental uncertainty feeds into a much broader…