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Onramp Media
Onramp Webinar Series E004: The Evolution of Bitcoin Custody
Sep 18, 2024
Join Jesse Myers, Brian Cubellis, Cam Stromme, and Jackson Mikalic as they dive into the fascinating world of bitcoin custody. They discuss the evolution of custody solutions, emphasizing the Multi-Institution Custody model to mitigate single points of failure. Highlighting the challenges of self-custody and the pitfalls of centralized approaches, the experts explore the need for enhanced security measures. They also touch on innovative onboarding processes and client experiences, making complex concepts accessible for all bitcoin enthusiasts.
01:03:38
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Quick takeaways
- Bitcoin's unique attributes position it as a superior store of value, making effective custody crucial for its future appreciation.
- The Multi-Institution Custody model minimizes risks associated with traditional custody methods by redistributing key management among multiple trusted entities.
Deep dives
The Significance of Bitcoin as an Asset
Bitcoin is recognized as a crucial asset of the 21st century, with its properties positioning it as a superior store of value compared to traditional assets. The concept of Bitcoin as 'digital gold' emphasizes its unique attributes, such as digital scarcity and the decreasing supply due to the halving events occurring every four years. The talk outlines perspectives, including projections that suggest Bitcoin could reach a value of $13 million per coin in the next two decades, reflecting a 200-fold appreciation from current levels. This underlines the importance of treating Bitcoin's custody with utmost seriousness, akin to safeguarding an asset expected to appreciate significantly over time.
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