The first Bitcoin users remain skeptical about institutional adoption in the short term, according to Preston Pysh, co-founder of the Bitcoin venture fund Ego Death Capital. Pysh claims that Bitcoin culture is characterized by skepticism and questioning everything, which raises concerns about the long-term impact of institutional participation in the Bitcoin market.
Concerns of the Bitcoin community
◽Some members of the Bitcoin community fear that growing institutional interest will distance Bitcoin from its original purpose as a safe-haven asset.
◽Institutional participation in Bitcoin derivatives and other similar financial products raises concerns about whether Bitcoin retains its essence.
◽Pysh emphasizes that the individuals who have made Bitcoin what it is today are those who have held onto their keys with determination during significant market downturns.
Perspectives on institutional adoption
◽Ryan McMillin, chief investment officer of Merkle Tree Capital, believes that the sale of old Bitcoin to new institutions is a sign of integration with the financial system.
◽According to a report by Coinbase and EY-Parthenon, 83% of institutional investors plan to increase their cryptocurrency allocations in 2025.
Companies leading Bitcoin adoption
Top 5 companies with the most Bitcoin:
◽BlackRock: 305,614 Bitcoin, valued at approximately $18.478 billion.
◽Grayscale: 277,967 Bitcoin, valued at approximately $16.806 billion.
◽Strategy: 226,331 Bitcoin, valued at approximately $13.678 billion.
◽Fidelity: 167,375 Bitcoin, valued at approximately $10.120 billion.
◽Tether: 75,354 Bitcoin, valued at approximately $4.555 billion.
