Positive Changes for BTC Promoted by Barry Silbert
A well-known entrepreneur and investor who has made significant contributions to the world of cryptocurrency and also owns Gensis Trading and Grayscale investments is Barry Silbert. He tends also to be the founder and CEO of Foundry and Digital Currency Group, venture capital companies that specializes in funding businesses operating in the blockchain and digital currency sectors. This Millionaire has become a prominent figure in the cryptocurrency over the years due to his efforts that has helped promote positive changes for BTC. This has made him to be a key figure in the development of a number of advantageous improvements in the sector. Silbert has helped to shape the industry and drive its growth and some of his major contributions that have been invaluable in bringing Bitcoin to where it is today include the following.
One of such major contributions includes founding of the Bitcoin Investment Trust. This tends to be among Silbert’s most important contributions to the Bitcoin industry. Bitcoin fund was introduced ion 2013 which enabled investors to obtain exposure to Bitcoin without having to buy and hold the digital currency themselves. Such helped legitimize Bitcoin as an investment and helped pave the way for the development of other Bitcoin investment vehicles.
Silbert has also been a vocal advocate for Bitcoin regulation. He recognizes the need for governments to regulate the cryptocurrency industry to protect consumers and prevent fraud. Excessive regulation can as well stifle innovation and hinder this industry growth according to Barry. He has therefore engaged with regulators to better grasp the potential advantages of cryptocurrencies. Regulations encouraging innovation and safeguarding customer interest have been developed with his help.
The other major contribution is being a strong advocate for Bitcoin scaling solutions in addition to his work with regulators. Silbert has helped adopt SegWit with his backing to expand the capacity of the Bitcoin network. Such helps boost the capacity of the Bitcoin network. Some of the scalability challenges Bitcoin has encountered has been resolved at the end.
Next is him being a strong proponent of Bitcoin as a store of value. The restricted supply and decentralized features of Bitcoin makes it a compelling alternative to established reserves of value like gold according to Barry. Flat currencies are intrinsically prone to inflation and manipulable by the government which has made him face criticism.
The last contribution is being a strong supporter of Bitcoin education and adoption. Silbert has funded numerous initiatives to promote Bitccoin education like Bitcoin Education Project and Bitcoin Investment Trust. He has invested in companies working to make Bitcoin more accessible and user-friendly like Circle and Coinbase.