In an interview with Bloomberg, Back says it is a very good thing for bitcoin that Satoshi stays out of the public.
"If you read about a technology, you try to figure out who is the CEO of a company, and people want to ask questions. Because Bitcoin is more like a digital gold, you wouldn’t want gold to have a founder," Back explained.
At the dawn of bitcoin evolution, Nakamoto managed to mine approximately 1 million BTCs which, at current price, would cost $9,488,090,000.
Back also says the institutional investors do not understand the true value of bitcoin, citing recent critique from Goldman Sachs Group Inc., which said that the cryptocurrency is not a suitable investment for its clients.
"The Goldman report was interesting because it showed some misunderstandings about digital scarcity and what’s useful about bitcoin," Blockstream founder said.
He is also says bitcoin might not require additional institutional adoption as the current environment "is causing more individuals to think about hedging."
iHodl previously reported that the Bitfury Group launched an institutional investor-focus program that might help large investors and family offices diversify their portfolios into digital asset infrastructure.
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