Institutional investors are showing increasing interest in cryptocurrency and investing in it, but some are concerned that this could lead to Bitcoin losing its anti-establishment roots. BlackRock, a major asset manager, recently applied for a Bitcoin exchange-traded fund, causing the price of Bitcoin to rise. While cypherpunks originally created Bitcoin to avoid government surveillance, institutional investors are focused on making money, which could lead to stricter regulations and a loss of privacy in the crypto space.
Despite this, Bitcoiners are working on privacy solutions for the asset. Karo Zagorus suggests self-custody of Bitcoin or crypto as a viable solution for individuals who want full control over their private keys, while Scott Norris believes that KYC is becoming a priority for regulators, which may limit privacy options for crypto holders. Nonetheless, Bitcoiners agree that Wall Street's entry into the space was inevitable.
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