finance
Crucible Capital Founder Says Bitcoin Faces Identity Crisis
Meltem Demirors stated that spot Bitcoin ETFs have not increased Bitcoin's real-world utility. She said institutional involvement has moved crypto away from its original infrastructure goals.
May 25, 11:30 AM·1m read1 source
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Crucible Capital founder Meltem Demirors said Bitcoin is experiencing an identity crisis because spot Bitcoin ETFs have not increased the cryptocurrency's real-world utility. Speaking in a Fox Business interview on May 25, Demirors stated that Wall Street's embrace of crypto has shifted the industry away from its original mission of rebuilding financial infrastructure.
"Crypto has been colonized by incumbent financial institutions," Demirors said.
Demirors noted that crypto-native financing tools can help companies access capital faster and cheaper without relying on banks. She added that the GPU race and AI buildout represent the biggest infrastructure buildout currently underway.
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