Bitcoin’s Future as Revolutionary as the Smartphone, Says CoinDesk President

Last updated: June 21, 2026 8:04 am

1 month ago

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CoinDesk’s president of indices and data, David LaValle, compares Bitcoin’s revolutionary potential to that of the early smartphone, urging investors not to discount its future despite recent market volatility.

Although Bitcoin has experienced significant price drops, LaValle suggests that investor sentiment is shifting towards re-entry, indicating a growing belief in its long-term credibility, much like the early adoption of smartphones.

Bitcoin's Future as Revolutionary as the Smartphone, Says CoinDesk President

CoinDesk's president of indices and data is urging investors not to dismiss Bitcoin, drawing parallels to the early days of the smartphone.

David LaValle told CNBC's "ETF Edge" that when he first got a smartphone, he didn't discard it because it couldn't immediately fulfill every need. Instead, he recognized its potential and convenience, comparing it to the current stage of Bitcoin adoption.

This perspective comes amidst a challenging period for Bitcoin. The cryptocurrency has seen a significant drop, down nearly 50% from its all-time high of $126,279 reached on October 6, 2025. While it briefly crossed the $65,000 mark, it has since retreated into the $63,000 range.

Bitcoin performance over the past year.

Despite these downturns, often termed 'crypto winters,' LaValle believes that the asset's fundamental value and future prospects remain strong. He notes that unlike previous periods of decline, the current sentiment among investors is shifting from 'whether there's a future' to 'when to get back in,' indicating a growing sense of credibility for Bitcoin.

Todd Rosenbluth, head of research and editorial at TMX VettaFi, echoes this optimism, observing that investors in Bitcoin ETFs, such as the iShares Bitcoin Trust ETF (IBIT), are largely holding onto their positions despite market volatility. This persistence suggests a belief in the long-term potential of Bitcoin.

A recent VettaFi survey of financial advisors revealed that while many are monitoring digital assets cautiously, a significant portion are actively investing or building positions. This indicates a growing acceptance and integration of cryptocurrencies into investment portfolios.

Even major Bitcoin ETFs like the iShares Bitcoin Trust ETF (IBIT) and Grayscale Bitcoin Trust ETF (GBTC) have experienced declines over the past year, but the underlying investor behavior suggests a resilient market sentiment. LaValle's analogy to the smartphone's revolutionary impact highlights the potential for Bitcoin to similarly transform various aspects of finance and technology.