Bitwise advisor Jeff Park says investors should start thinking less about Bitcoin's (CRYPTO: BTC) upside speculation and more about the risk of not owning it at all.

“If You Don't Own Bitcoin, You're Basically Short BTC”                

In a "When Shift Happens" interview clip published on June 17, Park argued that Bitcoin remains a hedge against fiat currency debasement.

But its relevance could grow further as artificial intelligence reshapes labor, data ownership and wealth distribution.

"If you don't own Bitcoin, you're basically short Bitcoin," Park said.

He said investors often focus on whether Bitcoin is too expensive, but the larger question is what downside they face without exposure to an asset designed to resist monetary debasement.

Park pointed to the history of dollar hegemony, from Bretton Woods to the Nixon shock, arguing that the current system depends on fiscal discipline that is becoming harder to maintain.

Bitcoin As Portfolio Insurance

Park said Bitcoin should be viewed as a core diversifier, not only a speculative asset.

While he still supports diversified portfolios, he said that if forced to own only two assets, Bitcoin would be one of them.

The other, he said, would likely be a dollar-based income-producing asset, such as long-dated U.S. bonds, which could benefit if interest rates eventually fall.

As AI centralizes economic power and fiat risks remain elevated, he believes Bitcoin and crypto could serve as both a store of value and a decentralized framework for attribution, ownership and compensation.

For investors, Park's message is clear. The bigger risk may no longer be owning Bitcoin, it may be owning none.

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