Why Are We Bullish on Bitcoin? | BTC Prague 2025 Panel

At the BTC Prague stage, alongside some of the sharpest minds in Bitcoin — from cypherpunks to institutional investors — we made one thing clear: most people are not bullish enough. Here is why we are.

The Cypherpunk Army Has Never Been Larger

Not long ago, there were maybe ten people on the cypherpunk mailing list tinkering with PGP. Today, we are tens of thousands strong. We just filled a boat with 300 cypherpunks gathered to talk about building privacy-preserving freedom tech. That alone makes me insanely bullish. We are at an all-time high for the number of people actively working to liberate humankind — and the progress is breathtaking.

There is an army of shadowy super coders that many people will never hear of, quietly building the core technologies that make Bitcoin usable for day-to-day spending, peer-to-peer transactions, self-custody, and private payments. The signal in the building space has never been higher. These are world-class, elite people with skin in the game, and they are moving faster than any government can regulate.

The Wind Is Finally at Our Backs

Since 2013, all we had were headwinds. Every single day. And Bitcoin still grew enormously in adoption and price despite an entire world pushing against it. Now, for the first time, we have a US administration — not just a president, but an entire cabinet — that is pro-Bitcoin specifically. That is an extraordinary shift. Bitcoin was like a beach ball held underwater. Now it has been released.

That said, I want to be clear-eyed. The capital gains tax on Bitcoin transactions has not been lifted. Key regulations have not been rolled back. And in Europe, there are genuinely dangerous pieces of legislation in the works around financial surveillance and debanking. The WEF, the IMF, the World Bank — they are not going away. But here is the thing: I am bullish on debasement. I am bullish on censorship. I am bullish on debanking. Therefore, I am bullish on Bitcoin.

Institutions Cannot Fight It Anymore

The largest banks in the world spent years fighting Bitcoin. Jamie Dimon called it garbage. But accounting rules changed the moment the previous US administration left office, and now banks can hold Bitcoin without the liability burden they had before. They are building products around Bitcoin this year. Lending products and collateralized products are coming next year.

Think about what happened to residential real estate prices once mortgages existed. When banks start lending against Bitcoin, that unlocks enormous financial freedom for ordinary people. We have reached a tipping point. The institutions that fought hardest against Bitcoin now have no choice but to get in the game.

The Store of Value Problem Is Universal

No government is going to stop printing money. Politicians get elected by giving people things, and they print money to do it. Every currency in the world is being debased. The average person is forced to become a hedge fund manager just to preserve the purchasing power of their wages. That is wrong at a human level.

Bitcoin solves this. It can be broken down to a satoshi and serve the least affluent person on the planet just as well as the wealthiest sovereign wealth fund. And here is what makes it truly remarkable: there is no aggrieved party. Nobody is harmed when someone does well in Bitcoin. The more people who participate, the more everyone wins — and the primary beneficiaries are always those who have been holding the longest. That is an elegantly fair system.

Entrepreneurs Are Buying Bitcoin

I sell Bitcoin directly and I see the demographics shift in real time. It is no longer just Wall Street traders and libertarians. Plumbers, restaurants, law firms, doctor’s offices — small and medium businesses are adding Bitcoin to their corporate treasuries. They are hearing the message and acting on it. That new demographic of entrepreneurs getting into Bitcoin excites me enormously. There are a lot of them, and they are just getting started.

Imagine Keeping the