Pension Funds Represent Bitcoin's Third Adoption Wave, Says Blockstream CEO

Bitcoin Magazine features a discussion with Adam Back, CEO and Co-Founder of Blockstream. He outlines his view on the adoption of bitcoin in three distinct waves.

Individuals formed the first wave. Exchange-traded funds represented the second. Back explains that the third wave, involving model portfolios, managed funds and pension funds, is still largely to come. He adds that Swiss banks are preparing for this wave.

The video chapters cover 00:00 the Blockstream Lugano office, 01:20 the move into consulting, 02:01 Swiss banks wanting quantum-safe Bitcoin custody, 03:04 tokenized money market funds versus stablecoins, 04:13 tokenized shares on Liquid and Blockstream AMP, 05:55 where institutions still get stuck, 07:00 building custody in-house versus using a custodian, 08:01 regulatory effects on custody, 10:01 Basel rules and the cost of holding Bitcoin, and 10:40 the three adoption waves.

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