Bitcoin as a Hybrid Asset

From 2013 onward, Bitcoin began to adopt a multilayered profile. It was no longer just electronic money or an ideological tool. It was, simultaneously, a store of value, a trust protocol, and a risk asset. This hybrid character can be structured into different layers of use:

Layer	Main Function	Typical Users
Technical	Decentralized medium of exchange	Developers, node operators
Economic	Programmed store of value	Investors, long-term holders
Especilative	Volatile high-risk asset	Traders, funds, platforms
Symbolic	Tool of political resistance	Activists, libertarians, communities

This polysemic character is one of Bitcoin's great strengths, but also a source of internal conflicts about its future orientation.