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Will Bitcoin maintain its essence in the face of institutional adoption? 6 specialists say yes

Key facts:

Cryptocurrency will always be a liberating option, according to panelists.

Institutions large and small must align their economic practices with BTC.

Alex Gladstein, director of strategy at the Foundation for Human Rights, believes that “Bitcoin (BTC) is a key mechanism for 87% of humanity to escape authoritarianism. A perspective of social value that cannot lose sight of the institutional investment that is adopting the first of the cryptocurrencies. This was pointed out during the The B Word conference held this Wednesday, July 21, virtually.

Gladstein participated in the panel that analyzed how Bitcoin can preserve its main value propositions in the face of institutional adoption. During the session, ecosystem insiders such as Jameson Lopp, Dhruv Bansal, Wiz and Brett Winton concluded that, above all, the cryptocurrency will keep its essence.

The panellists noted that, due to its strengths, Bitcoin will always be an option for the citizens of the world to escape the totalitarianism of governments, as well as the inflationary methods of the conventional banking system. To achieve this, everyone must be aware of the benefits that can be derived from the network.

During the talk, Gladstein delved into what he considers “very important.” That institutional investors become aware that Bitcoin represents the true criteria of Social Responsibility, sustainability and sustainability to ensure the future of humanity. In that sense, he expressed his concern about what he discovered when he read the Report on the Sustainable Development Goals, recently presented to the UN.

The report appears to be created by authoritarian governments, even drafted by, none other than, Bashar al Assad’s Syria. Actually, if you look closely and if you carefully analyze the objectives themselves, they do not mention concepts such as democracy or the protection of privacy. The word human rights is barely even mentioned. The document shows as if a group of governments came together and said ‘this is where we want to be in 2030 and we don’t want to have democracy, or privacy or civil liberties, or fight against corruption’. None of these words are mentioned there.

Alex Gladstein, director of strategy for the Foundation for Human Rights.

Therefore, the expert believes that Bitcoin is a useful mechanism because it offers freedom to individuals, especially sovereignty because a high percentage of the world’s population does not have real ownership of their own money. “They don’t even have a constitution or an independent judicial system. So Bitcoin offers them even more freedom and democracy than those written statements could represent by themselves, “he added.

ARK Invest’s Sam Korus moderated the panel, which was shared by Brett Winton and Alex Gladstein. Source: Screenshot / The B Word.

Do you want quality of life for humanity? Bitcoin is your best ally

For Brett Winton, director of research at Ark Invest, in a spontaneous way Bitcoin is aligned with the ESG matrix, the three letters that represent good economic practices in the pursuit of sustainable development.

The “E” stands for the environment, the “S” stands for social concern and the “G” stands for corporate governance guidelines. Together they are the planned practices that rethink the organizational culture, not only of large corporations, but also of small businesses around the world.

What Winton believes is that the ESG matrix of small and large corporations must be sustained by what he called the Energy of Big Money, which represents channeling efforts to base Bitcoin mining on renewable energy.

Bitcoin is going to completely unlock so much renewable energy around the world that it is going to honestly transform the way we interact with energy. So Bitcoin is something that I think you should absolutely get involved in. You’re going to have to, you’re going to have to learn a little deeper to feel comfortable with yourself, but definitely do it.

Brett Winton, Research Director at Ark Invest.

How good is joint custody?

Earlier, the panel focused on discussing fund custody alternatives for institutional investors. The debate answered questions such as what will be the best custody option for corporations large and small?

Lopp, Dhruv Bansal, co-founder of Unchained Capital, and Wiz, operator of the Bitcoin explorer mempool space, Wiz, noted that when it comes to the custody of Bitcoin, the best option will always be to take full responsibility and that each user, company or institution stores their own funds, without intermediaries.

Matt Odell moderated the discussion in which Lopp, Wiz and Bansal participated. Source: Screenshot / The B Word.

The panelists then voiced their concerns that more and more BTC is in the hands of centralized custodians, burying the bitcoin community’s motto “They’re not your keys, they’re not your bitcoins.” It means that you don’t fully control your assets, when you give someone your private key. However, joint custody appears to be the necessary risk to take as technology advances and more adoption gains.

Part of the spirit of Bitcoin is that you are supposed to keep it under your own domain, but if you look at how El Salvador will adopt it, you will see that there they are not thinking much about the essence of cryptocurrency. Although I think it’s a good starting point, that’s why I think there is still a lot of work to be done for the individual community, especially in developing countries where they don’t really have a computer, a smartphone, much less will be able to run a node. . Perhaps the best thing for the owner of a store in El Salvador or a large institution such as Morgan Stanley to enter Bitcoin is through a custodian that, although it has third-party risk, later as they mature within the ecosystem, with luckily they will adopt configurations with less risk.

Dhruv Bansal, co-founder of Unchained Capital.

Last year, institutional adoption picked up momentum. In fact, earlier this year, CriptoNoticias reported that institutional investors would choose to have 20% of their reserves in bitcoin. This according to what was pointed out by the CEO and director of investments of Ark Invest, Cathie Wood.

At that time, what Wood commented was correlated with the study by the investment bank JPMorgan, reviewed by this means, in which it was revealed that 11% of the institutions had already invested in bitcoin and other cryptocurrencies.

However, this week Glassnode notes in its report that investor interest institutional is declining. As a sign of what is happening, the document highlights Grayscale, whose cryptocurrency-based product (the GBTC) has been trading “at a discount” to bitcoin, in a range of 10% to 15%. Ultimately, it reveals that bitcoin is currently less valuable in the eyes of institutional investors.

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