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The strength of Bitcoin lies in its decentralization and in not being tied to any influencing figure
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The case of Roger Ver reminds that Bitcoin is led by an entire community.
For years, bitcoin (BTC) has been the subject of intense scrutiny by detractors who accuse the technology of excessive energy consumption and that it is an asset that lacks intrinsic value. Already, the community identifies these actors as enemies of the pioneering digital currency. But little is usually noticed when the danger could come from those who present themselves as its most fervent defenders, as is the case of Michael Saylor, president of MicroStrategy and the main promoter of the institutionalization of bitcoin.
It is true that Saylor has made a series of contributions to the bitcoin ecosystemwhere it is not only a great promoter of institutional adoption of BTC, But he has participated in countless interviews, forums and conferences in which he convincingly presents his vision on how bitcoin It is an important store of value, making it a valuable asset for corporate treasuries.
By acquiring billions of dollars in bitcoin for MicroStrategy, Saylor demonstrated that it is possible to set a new standard for businesses, because it can be a long-term strategic investment. It is, ultimately, a Bitcoin game changer that saved MicroStrategy from irrelevance, as CriptoNoticias highlights in its editorial article.
Saylor has also contributed to demystifying the negative perception associated with Bitcoin Mining and has shown that it is possible to generate new currencies with environmental sustainability.
Saylor has garnered considerable attention, both within the bitcoin community and in the global financial arena. His figure has become an indisputable reference in institutional adoption of the currency invented by Satoshi Nakamoto. However, his figure also generates debate and controversy, as happened in October when he mentioned that the self-custody of bitcoin is comparable to the paranoia of cryptoanarchists.
However, having an icon like Saylor directly linked to bitcoin can pose a number of risks. Although their unconditional support contributes to the popularity and legitimacy of bitcoin in some sectors, it is also true that its influence can generate a contrary dependence to the principle of decentralization that characterizes the pioneering digital currency.
Bitcoin was created by the enigmatic Satoshi Nakamotowho when he disappeared, more than a decade ago, made it clear that It is not up to a single figure to lead its developmentbut that task corresponds to the entire community. Therefore, the decentralized nature of this cryptoasset protects its integrity and autonomy from the decisions of influential figures.
The fact that Saylor is seen as a Messiah for bitcoin should be understood as a risky action for bitcoin, since, if the president of MicroStrategy were involved in a scandal or changed his mind about the digital currency, it could erode trust. of many investors, especially those who follow him like a guru. As a consequence, this could lead to a massive sell-off in bitcoin and the probable collapse of its price, among other repercussions.
Likewise, if Saylor loses credibility, institutional adoption of Bitcoin could be slowed. Also, a change of heart on his part could reignite internal debates in the bitcoin community about the long-term vision and its role in the financial system. This could create divisions and fragmentation in the community.
In any case, history tells us that Bitcoin has survived the influence of celebrities, those who have presented themselves as experts in the sector and opinion leaders, but the community has also gone through bitter events. One of them was what happened in 2017, when Roger Ver, nicknamed “Bitcoin Jesus”, after being one of the first to make a serious investment in BTC at the beginning of 2011, expressed his disappointment about Bitcoin and switched to Bitcoin Cash, an antagonistic project, born from the fork of the main Cryptocurrency on the market.
Roger had gained widespread popularity in the bitcoin community, but then attracted considerable attention to Bitcoin Cash, thus helping it gain popularity and adoption. However, so far, there is nothing to prove that their decision was the right one in terms of market value. It is also not proven that His change of position has brought greater benefits to the community that followed in his footsteps.
Therefore, it is important that the bitcoin community continues on its path, without the presence of a “Messiah”, since with them there is the danger of divisions or unfounded doubts arising about the future of the asset.
Ultimately, Bitcoin should not be tied to a single individual. The digital currency was conceived without ties to a central figure, and it is essential that enthusiasts and advocates continue to embrace this decentralization to preserve its essence. In a world where reliance on icons can be tempting, It is the autonomy of Bitcoin that offers real hope for a fairer financial system.
Disclaimer: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of CriptoNoticias. The author’s opinion is for informational purposes and under no circumstances constitutes an investment recommendation or financial advice.
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