Adam Back, CEO of Blockstream and one of Bitcoin's earliest adopters, recently shared his thoughts on cryptocurrency sales and market conditions.
Selling Bitcoin and Market Odds
Adam Back stated that selling Bitcoin is akin to playing in a casino with bad odds. According to him, the chances for traders trying to predict a price drop are extremely low. He noted that his early experiences with Bitcoin showed high volatility even with rising prices.
> “The trend line is up and to the right, exponential, and so there are extremely bad trading odds attached to selling because you’re really hoping that it falls,” Back said.
Impact of Institutional Investments
Back pointed out the growing interest from institutional investors as a key factor supporting Bitcoin prices. He highlighted that firms like Strategy are not only purchasing Bitcoin directly but also offering indirect exposure through instruments such as convertible notes. Significant was also the involvement of sovereign wealth funds, such as Abu Dhabi’s stake in BlackRock’s Bitcoin ETF.
Government Initiatives in Cryptocurrency
Finally, Back mentioned that government entities are also becoming interested in cryptocurrencies. US President Donald Trump issued an executive order to establish a strategic Bitcoin reserve, while New Hampshire recently signed a law for such a reserve. Additionally, Texas lawmakers passed a bill allowing the creation of a state Bitcoin reserve.
Thus, according to Adam Back, despite the high volatility and challenges associated with trading Bitcoin, the prospect of institutional investments and government support creates stable conditions for price growth in cryptocurrency.
