Ashley Allan Blog Post #2 "Picasso or Bitcoin"
"Picasso or Bitcoin" Canaletto, Venice, the Return of the Bucintoro on Ascension Day, around 1732 The article "Picasso or Bitcoin," written by Scott Reyburn, poses many questions, such as whether owning a Picasso is still the ultimate status symbol. Or has that role shifted to things like Bitcoin and luxury experiences? Art used to be a status symbol for the wealthy, but recent data shows its status might be slipping. Auction houses like Christie's and Sotheby's reported that their sales stayed flat in the first half of 2025, instead of showing growth as was expected. Suggesting the market for art is leveling out rather than growing. This comes because wealthy people are now trying to think more financially and question whether art is worth it, given the costs to buy and sell art, and how hard it is to quickly turn it back into cash. Art starts to look less appealing compared to stocks, gold, or even Bitcoin. The super rich are now focusing on ...