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Institutionalists will protect Bitcoin (BTC) against government abuse of power – Cryptocurrencies

Institutional bitcoin bulwark

To govern is to plan! But here we should rather plan the actions of governments against cryptocurrencies and the weapons available to them to counter them. Institutional investors would serve as a guarantee that the current rules governing the cryptosphere will be maintained. They would have a chilling effect on governments that would be tempted to introduce laws that could jeopardize the future of cryptocurrencies.

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All behind the BTC!

CEO of ShapeShift, Erik Voorhees, believes that institutional investors will play a major role in securing cryptocurrencies.

During a panel discussion at the conference LaBitConf December 2020, Voorhes had indicated that the adoption of Bitcoin (BTC) will increase over the next decade.

However, mass adoption will only happen quite late, once Bitcoin will be recognized as an international monetary standard.

The members of the panel are unanimous on the question of defending the interests of Bitcoin. According to them, these interests will be best served by entities that hold and buy Bitcoin.

Voorhees believes that the diversity of these entities is an important factor, given that the democratization of the control of the currency is the essence of Bitcoin.


Buy Bitcoin to improve your image

The entry of institutional investors represents an advantage for the BTC and cryptos in general. This is a guarantee that the current rules are maintained, that governments do not seek to interfere with the markets.

Voorhees believes that governments are more inclined to resort to censorship where market players are primarily retail investors.

Institutional investors can act as a natural bulwark against government excesses.

CEO of ShapeShift indicates that 2020 is a pivotal year for Bitcoin with its recognition by leading investors Paul Tudor Jones, Stanley druckenmiller as an active in its own right.

According to Voorhees, the real resurgence of institutional interest will occur during the next bull cycle, when the failure to hold Bitcoin will damage a company’s reputation.

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Bitcoin now enjoys strong support from institutional investors like MicroStrategy, Grayscale, Square and PayPal. Ethereum (ETH) only investors are also seeing their numbers increase, a sign of recognition of ETH as an asset by some investors. Governments rule countries, but money rules the world: enough to ensure the sustainability and development of cryptocurrencies?

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