Financial institutions want Bitcoin and ETFs: Blockstream’s Adam Back
2024-11-01

Bitcoin’s institutional adoption remains strong, increasing the resilience of the world’s first cryptocurrency, according to Adam Back. 
Bitcoin BTCUSD is “bootstrapped sufficiently” in terms of institutional adoption, partly thanks to the US spot Bitcoin exchange-traded funds (ETFs), Adam Back, the co-founder and CEO of Blockstream and the inventor of Hashcash, told Forbes during an interview. He continued: 
Back noted that others also remain interested in Bitcoin adoption, including entire countries:

Back was an early Bitcoin developer and the first person to receive an email from pseudonymous Bitcoin creator Satoshi Nakamoto.
His invention, Hashcash, provided the foundation for the Bitcoin mining process as the first proof-of-work system used to tackle email spam and denial-of-service attacks.
Bitcoin’s initial technical risks have mostly faded: Adam Back
The famous cryptographer’s comments came shortly after the crypto industry celebrated the Bitcoin white paper’s 16th anniversary on Oct. 31, which is when Nakamoto shared Bitcoin’s foundational technical document to a list of cryptographers, including Back, for the first time.
Speaking about Bitcoin’s growing maturity, most of its initially perceived risks have faded, explained Back, adding:
While Bitcoin’s technological risks have also subsided, there’s still room for innovation for the world’s first blockchain network, added Back:
The Truth About Satoshi Nakamoto: Adam Back Explains. Source: YouTube
Showcasing the network’s growing security, Bitcoin’s hashrate hit a new all-time high of 769.8 exahashes per second on Oct. 21. Hash rate is used as a measure of Bitcoin’s cybersecurity.