With Bitcoin commanding a 62 % market share and July historically green for majors, many Pi holders are asking whether centralised oversight will cap upside just as the next big altcoin 2025 rotation begins.
Analyst Axel Adler notes that Bitcoin’s transparent governance is the benchmark; Pi’s opaque architecture risks pushing whales to hunt low cap crypto gems elsewhere, especially if Mainnet remains invite-only much longer.
Technically, Pi’s mobile-first mining and 50 M-strong user base remain impressive. Yet the token’s $3.6 B valuation and drip-feed communication leave questions about supply growth, node incentives and on-chain voting.
Unless the Core Team publishes a DAO framework, outlines crypto staking economics and opens validator slots, the network may struggle to shed the “closed garden” label—even if price lifts toward the frequently cited $1 target.
