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Held explores how Bitcoin can transcend the narrative of "digital gold" and rebrand itself for the next wave of users, navigating new political and technological borders.
Bitcoin
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Long described as "digital gold," it is a store of value for believers in scarcity, decentralization, and self-sovereignty. With growing institutional interest, geopolitical shifts, and the emergence of new layers of Bitcoin, is it time to evolve the narrative?
In this episode of The Clear Crypto Podcast, hosts Nathan Geffray and Gareth Jenkinson talk with longtime Bitcoin entrepreneur and investor Dan Held, who claims that the next chapter of Bitcoin may open wider jobs, from programmable use cases to more precise messaging that goes beyond the original circuits of cryptocurrency.
Political Transformations
With President Donald Trump's public support for Bitcoin - and reportedly owning it himself - Held said he sees regulatory change and a shift in reputation.
He said, "We have the most open administration towards Bitcoin in the United States."
It seems a bit strange... The press usually indicates that Bitcoin mining destroys the environment. It is used by money launderers... and instead, you find the president encouraging the use of Bitcoin.
Held tracks the unexpected rise of Bitcoin during tough times, starting from China's strict campaigns on mining to the Biden administration's tough approach towards cryptocurrency banking. Yet, despite these challenges, he said around 25% of Americans own Bitcoin now.
DeFi on Bitcoin
What happens next could push these assets into a new phase. Held and Jenkinson support building decentralized finance (DeFi) tools based on Bitcoin, which are functions traditionally associated with blockchains like Ethereum or Solana.
"If we can bring [DeFi] back to Bitcoin, Bitcoin can benefit not only from immediate speculation... but these other speculative games will allow Bitcoin to grow faster."
This includes borrowing, lending, and storage, all mechanisms that allow users to interact with Bitcoin beyond just holding or trading it.
Related: How cryptocurrency payments could become the new "pay and go" - one of the founders of Pulsar
Jenkinson echoed the potential, highlighting a shift in attitude: "If you can use [Bitcoin] and introduce DeFi to it, you essentially allow people to use digital gold as a primary asset... It's very difficult, as most extremists among Bitcoin supporters do not want people to trade Bitcoin for something else."
Held pointed out that this tension between so-called "Bitcoin maximalists" and more moderate voices is not new. He recalled the Bitcoin Cash split in 2017, describing it as "a civil war... brother against brother." But unlike that controversial split, today's evolution is happening without rewriting Bitcoin's fundamental rules. Held said: "No one is suggesting changing Bitcoin's rules. This is innovation built on its foundation."
To listen to the full dialogue on The Clear Crypto Podcast, catch the complete episode on the Cointelegraph podcast page, or Apple Podcasts, or Spotify. And don't forget to check out Cointelegraph's complete suite of other shows!
