Exclusive: Bitcoin ETFs, Treasury Firms ‘Double-Edged Sword,’ Says Trezor CEO — They Bring Money, But Not Owning ‘A Piece’ Of BTC Is A ‘Pity’
Matej Zak, CEO of hardware wallet company Trezor, called the rise of Bitcoin (CRYPTO: BTC) exchange-traded funds and corporate treasuries a “double-edged sword” as they bring in fresh money to the market but also weaken some of BTC’s core ideals.
It’s A Pity, Says Zak
Speaking with Benzinga at the launch event for the company’s latest product, Trezor Safe 7, in Prague, Zak admitted that these institutional-grade investments create “buzz” and add “extra marketing dollars” on Bitcoin.
“So that’s probably positive in the sense that more people know about crypto,” Zak added.
The flip side, he believes, is that people are not holding Bitcoin directly.
“Because like, why BTC even started? Well, because people had financial products that were heavily leveraged, the financial markets collapsed and a lot of people lost all their money,” Zak said, possibly referring to the message encoded in the genesis block that many have linked to the 2008 financial crisis.
He …
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