Bloomberg Talks Kraken Co-CEO Arjun Sethi Talks Bitcoin as a "Protocol"
Aug 19, 2025
Arjun Sethi, Co-CEO of Kraken, dives deep into the transformative future of blockchain technology and Bitcoin's evolving role beyond just wealth accumulation. He highlights the enthusiastic discussions at the Wyoming Blockchain Symposium, where attendees ponder the potential growth of digital assets. Sethi also navigates the nuanced debate around Bitcoin as a medium of exchange versus a store of value, emphasizing Kraken's cautious approach to IPOs amidst market volatility and the need for sustainable growth in the crypto landscape.
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Bitcoin As A Protocol
- Arjun Sethi frames Bitcoin as a protocol and network, not just a static store of value.
- He predicts the ecosystem is in early innings and could attract trillions as layers and protocols build on it.
Multiple Ways To Value Bitcoin
- Sethi highlights multiple interpretations: store-of-value buyers and builders using Bitcoin for payments and infrastructure.
- He argues diverse use cases will spawn many applications built around Bitcoin and other chains.
Where Innovation Is Happening
- Sethi notes most blockchain innovation today happens outside the United States.
- Kraken aims to bring, keep, control, and perpetuate that innovation within the U.S.