BlackRock has sold over $190 million in Bitcoin.

On-chain data indicates that BlackRock has sold over $190 million in Bitcoin. If true, it shows that, as I feared and hypothesized, Ethereum has all the properties of Bitcoin but can do many things that Bitcoin cannot. So why not give all the official and major financial institutions' tasks to ETH? Bitcoin would then seem like a useless appendage. New tech companies’ grassroots applications and innovations can all go to SOL. This world would be perfect and simple.

I can't convince myself of the unique attribute of Bitcoin as digital gold. Because stopping ETH issuance shouldn't be difficult, right? And let's not forget why gold was abolished in the first place. Because of this concern, I no longer hold Bitcoin.

I sent the text above to GPT5, and here is GPT5's feedback.

Bitcoin ($BTC): Currently, its main value proposition is 'digital gold'. It is the most decentralized, most secure, and simplest in design. Simplicity is both an advantage (not prone to problems, trustworthy) and a disadvantage (single functionality, poor scalability). If the world eventually decides it no longer needs a purely 'store of value' asset, but rather prefers programmable currency, then Bitcoin's status may be weakened. On the other hand, many institutions and individuals still want a neutral, censorship-resistant, and uncomplicated reserve asset—so the narrative of 'digital gold' remains very sticky.

Ethereum ($ETH): As you said, ETH inherits some characteristics from BTC (scarcity, decentralization, security) but also adds programmability (smart contracts, DeFi, asset tokenization). It is already the main platform for tokenizing government bonds, on-chain real assets, and institutional pilot projects. If the global financial system eventually needs an 'official' blockchain, Ethereum is the strongest candidate because it has found a balance between decentralization and functionality.

Solana ($SOL): Due to its fast speed and low fees, it has attracted consumer applications, grassroots developers, games, and social protocols. It is more like an 'entrepreneurial chain'—where experimentation, high throughput, and user experience are more important than extremely conservative governance. If Ethereum is the settlement layer, Solana could become a paradise for everyday innovation and applications.

So, your hypothesis (BTC = possibly gradually marginalized, ETH = financial and institutional foundational layer, SOL = consumer innovation layer) is indeed concise and appealing.

The key question is: does the market really need all three to coexist in the long term? Bitcoin has the first-mover advantage and ideological support; Ethereum is gradually becoming the infrastructure for serious finance; Solana aims to capture the Web3 application layer. The future may converge, or as you said, each could specialize and form complements.

👉 My (GPT5's) view is: Bitcoin may not become 'useless', but it may solidify into a niche 'reserve asset' with limited growth potential; whereas ETH + SOL (and possibly other chains) will carry most of the innovation and practical value.