Bitcoin Og Willy Woo said Bitcoin is the “perfect possession” over the next 1,000 years, but said it will not reach the US dollar and gold unless it attracts more capital.
“The thing is, you can’t change the world unless this financial ownership – in my opinion, the perfect owner for the next thousand years – should not do its job unless the capital is flowing and getting big enough to compete with the US dollar,” the Bitcoin investor invests Says At the Baltic Honeybadger Conference in Riga, Latvia, on Sunday.
The Bitcoin market cap is currently sitting at $ 2.42 trillion, less than 11% of the $ 23 trillion gold market cap, while the US dollar money supply took $ 21.9 trillion.
Bitcoin treasury companies boost adoption, but there are risks
Woo said there were at least two obstacles that prevent Bitcoin from becoming an asset of the World Reserve.
While Bitcoin treasury companies are accelerating adoption, little is known about how they structure their debt – a risk that can lead to a Bitcoin bubble explosion.
“There’s really no public to look deep into the debt structure, so I really think the weak ones will explode, and people can lose a lot of money,” Woo said, Adding that Altcoin treasurys are now practicing the same playbook that can “create another bubble.”
He expressed concern about how the Bitcoin Treasury adopted would open if a significant market correction or ensue in the bear market:
“What’s going on in the bear market? Who’s swimming naked and how many coins are slapped on the market?”
Bitcoin is at risk of contact with the country-state
Meanwhile, the hope of the spot Funds exchanged by Bitcoin Exchange and Pension funds For exposure to bitcoin-compared to self-custody-can concentrate more bitcoin (Btc) Within the reach of the arms of the countries-states, the risk of a government-led-led leader increases, he said.
Woo noted that while Bitcoin attracts flows, investors with “money bags” do not choose self -care.
Instead, they are looking for exposure by spots Bitcoin ETF or Bitcoin Treasury companies such as strategy, Woo said, adding that pension funds rely on institutional solutions such as Coinbase custody.
Related: Michael Saylor does not sweat the rise of Ethereum treasury companies
While these Bitcoins on-ramp open floods for more capital, investors take the risk of “rugged at the country-state level,” Woo said.
Woo speaks next to other panelists including blockstream CEO Adam Back, host of what Bitcoin Danny Knowles, Bitcoin analyst Leon Wankum and Max Kei know.
Kei, founder and CEO of Bitcoin’s self-custody platform Debifi, said The self -confidence Bitcoin is gradually spreading -from caregivers like Coinbase to sunny businesses and finally to individuals.
“(The companies will) learn how to take care of themselves, and they will do self-custody. Then there are individuals within these companies (who) learn about it. And then it is only effectively spreading widely.”
Companies are still the most ‘logical’ place for adopting bitcoin
Despite Woo’s concerns about the dangers of Corporate’s Bitcoin adoption, Back said companies remains the most luxurious starting point for the adoption of Bitcoin.
With the expected future return of Bitcoin as a “hurdle rate” for investments, he said, “If a company does not beat Bitcoin, they should close the shop and buy Bitcoin.”
He added that companies with SOLID BUSINESS BUSINESS It can still develop by combining Bitcoin, saying “it doesn’t have to be a pure play.”
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