3 reasons why Bitcoin fans shouldn’t be afraid of Blackrock

Bitcoin (BTC) billionaire Michael Saylor, co-founder of MicroStrategy, gives three reasons why Bitcoin owners shouldn’t be afraid of big institutions meddling in the crypto market. In the podcast coin stories Host Nathalie Brunell asks Saylor how he sees big companies like BlackRock entering the bitcoin market.

Saylor emphasizes that third party and corporate participation in the market is inevitable. He explains that while we should be prepared for everyone to use Bitcoin, we shouldn’t be afraid of the different ways people and businesses choose to integrate Bitcoin.

Bitcoin acceptance by society

Brunell reported in a recent interview that Bitcoin fans are not at all excited about the arrival of large institutions. They would rather see the digital currency decentralized and in the hands of many private users.

According to Brunell, many Bitcoin owners have lost faith in the big Wall Street firms because they believe these firms have contributed to the erosion of the American workforce. Saylor says that Bitcoin’s societal acceptance will bring many benefits to users.

The three main reasons

Saylor gives three reasons why Bitcoin owners should not fear interference from large institutions. On a political level, big corporations like cities and countries will likely want to add bitcoin to their coffers. This requires some sort of shared responsibility, or custodial responsibility, which is a natural evolution, not centralization.

“The Mayor of New York is still the Mayor of New York. Unless you get rid of New York City, California or Iceland, political reasons will require administrators.”

From a technical point of view, there will be several layers of solutions. The Lightning Network will enable fast transactions, while depositary platforms like Apple or JPMorgan will allow for broader integration. These technical integrations improve the functionality and accessibility of Bitcoin.

On a human level, there are situations where individuals, due to their age or health, need a trusted third party to manage their bitcoins. This shows the flexibility and versatility of Bitcoin in meeting different human needs.

Bitcoin owned by MicroStrategy

American software company MicroStrategy is one of the largest publicly traded holders of Bitcoin, buying more than $340 million worth of BTC earlier this year under Saylor’s leadership. With this purchase, the total inventory at the time was 152,333 BTC with an estimated value of approximately $4.5 billion.

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