The post Adam Back Reveals The Next Steps For Bitcoin Following Institutional Adoption appeared on BitcoinEthereumNews.com.

Adam Back, co-founder and CEO of Blockstream and inventor of Hashcash, says institutional adoption is strong and adding to the resilience of Bitcoin. Recently, he shared that Bitcoin is now “sufficiently bootstrapped” from the strong institutional interest, particularly with the recent launch of US spot Bitcoin ETFs. Adam Back Explains Key Areas for Bitcoin’s Future Development Adam Back, famous British cypherpunk and cryptographer, recently identified a few key areas for Bitcoin’s future development. He says that Bitcoin adoption by a number of parties, big enough to be a whole country, does build interest. He points out that nowadays some sovereign wealth funds and countries are starting to invest in Bitcoin products and instruments. Back emphasized the importance of increased institutional adoption. He noted that Bitcoin’s resilience and strong foundation have been strengthened by institutional support and the recent approval of US spot Bitcoin ETFs. Back believes Bitcoin is now “bootstrapped sufficiently,” as financial and sovereign entities are becoming allies, which reduces previous regulatory risks. He stated: “Now the ETFs mean that the issuing financial institutions are interested in expanding and keeping those products in the market. So the banking or financial institutional lobby now wants that to be there.” Adam Back also sees the expansion of L2 solutions, such as Lightning and Liquid network, as crucial for Bitcoin’s future. He especially emhasizes enhancing retail payments and enabling complex financial transactions. Back highlights advancements in the Lightning Network and its crossover with Liquid. He focuses mostly to improving retail payment scalability and exploring use cases involving stablecoins and trustless trading. Furthermore, his company Blockstream is focusing on innovative financial products. That means also launching more Bitcoin-based securities and financial instruments on Liquid. This initiative includes offerings like promissory notes and tokenized shares, such as MicroStrategy stock. These are especially, appealing to…

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Filed under: News - @ November 1, 2024 8:23 pm