While generalizations are often best avoided, it’s fair to say that a significant number of long-time Bitcoin believers are not fans of Davos get-togethers, or indeed of event organizers the World Economic Forum. This can be put down, in part, to Bitcoin’s origin story as a bootstrapped potential replacement for present banking and finance mechanisms, and even for fiat money itself, coupled with the fact that Davos is regarded as emblematic of precisely those institutions to which Bitcoin has been touted as an alternative.
All of which makes it notable that in recent years, the Davos conference has featured an increasing presence of representatives from the cryptocurrency industry, whose attendance this year may seem more fitting than ever due to the recent approval of spot BTC ETFs in the United States, a move seen by some as legitimizing bitcoin for mainstream investors.
In fact, the approval and launch of spot ETFs marks a significant shift in tone since bitcoin and crypto’s 2022 lows, when the collapse of FTX gave the temporary impression that perhaps crypto skeptics had had a point, and the industry as a whole might be better off resolving its own internal problems, rather than attending political/corporate talking shops.
As the self-anointed descend on Davos in their private jets, here is a reminder of the totalitarian future they want to usher in with CBDCs…
They will own everything, you will own nothing, & you will most definitely not be happy.
Study #Bitcoin pic.twitter.com/uNQ06u0aIJ
— Walker⚡️ (@WalkerAmerica) January 16, 2024
Fast forward to 2024 though, and crypto is in a far more optimistic position, while at Davos, there have been some memorable statements, not least from JP Morgan CEO Jamie Dimon, who himself remains–despite JP Morgan acting as an Authorized Participant for BlackRock’s new Bitcoin ETF–as skeptical of BTC as ever.
Entertainingly for viewers, Dimon declared in a CNBC interview at Davos that he definitely did not want to talk about bitcoin, while also taking the opportunity to wonder whether pseudonymous Bitcoin creator Satoshi Nakamoto might one day reappear to increase the digital currency’s fixed supply beyond its hardcoded 21 million cap.
Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum.https://t.co/6VkpFuxFEd pic.twitter.com/NLDlN01cBi
— CNBC (@CNBC) January 17, 2024
Such a supply increase isn’t technically possible, and perhaps…
