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Is Bitcoin a ‘Perfect Asset’ with a Catch? Willy Woo Weighs in on the Risk
The crypto market has been experiencing a resurgence, with Bitcoin (BTC) surging by 2.53% within just 24 hours, and reaching an all-time high of $121,278 according to CoinMarketCap. The sudden influx of institutional interest, particularly through spot ETFs, pension funds, and corporate treasuries, has sparked concerns about the digital asset’s growing centralization.
Veteran analyst Willy Woo, a renowned expert in the field, has shed light on his concerns regarding Bitcoin’s risk profile. In an interview at the Baltic Honeybadger conference in Riga, Latvia, Woo emphasized that, while he regards Bitcoin as “the perfect asset” for the next millennium, its susceptibility to centralized control poses significant threats.
Woo’s assertion is predicated on the fact that the rapid adoption of Bitcoin treasuries could result in the digital currency becoming vulnerable to state-level interference. Notably, this concern is amplified by the fact that many institutional investors are opting for spot ETFs and corporate treasuries over self-custody.
Source: ambcrypto.com
