# NYDIG Bitcoin Update: Bitcoin's Evolution

**Pete Janney & Greg Cipolaro**  
**January 8, 2026**

In this episode of _The NYDIG Bitcoin Update_, Pete Janney and Greg Cipolaro discuss how bitcoin is maturing as an asset, highlighting declining volatility as a sign of deeper liquidity and broader participation, and what that means for its evolving risk profile. They examine bitcoin’s growing role in portfolios—often compared with gold—as institutional adoption, advisor uptake, and vehicles like ETFs reshape demand and price behavior amid macro uncertainty. The conversation concludes with a forward-looking view of bitcoin as an increasingly established component of diversified investment strategies, supported by improving infrastructure, regulatory progress, and rising institutional acceptance despite ongoing market uncertainty.

[Download](https://www.nydig.com/research/nydig-bitcoin-update-bitcoins-evolution#)

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