Bitcoin has evolved far beyond its roots as a tool for economic independence. That’s not a bad thing, says Pierre Roschard, CEO of Bitcoin Bond Company.
Speaking to Scott Melker on TheStreet Roundtable, Rochard argued that adoption of Bitcoin by governments and institutions should be seen as a sign of success, not betrayal.
“When we see governments adopting Bitcoin and companies adopting Bitcoin, it shows that we have been successful beyond our wildest dreams,” he said. “Others put it together as some sort of failure, but the bottom line is that they haven’t changed Bitcoin. Bitcoin is changing them.”
For early adopters who joined the space to opt out of the system, that may seem like a contradiction. But Rochard believes Bitcoin is doing exactly what it was designed to be. It reduces dependence on “trusted third parties” and allows people to control their money.
“We’re moving the ball further down the field, moving away from past conversations like, ‘Would the government ban Bitcoin?’ “That’s great for individuals too.”
Roshard also pointed out that not everyone is ready to become sovereign overnight. That’s fine.
“There are a lot of people in society that aren’t ready… for some reason,” he said. “But if governments and businesses offer a simple off-ramp from the world of dollar inflation to Bitcoin… that’s how we get adoption.”
Ultimately, he believes that government and institutional adoption is not the end of Bitcoin’s mission, but the beginning of a much wider movement.
“Let them start from that path,” he said. “In the long run, they’re heading down the funnel and becoming sovereigns.”