Paxos CEO Charles Cascarilla at Bitcoin 2021

Paxos attended and sponsored the Bitcoin 2021 conference in Miami, which took place in early June. A wide swath of crypto-interested people attended - beyond retail investors, many financial services companies attended as well, all eager to learn more about the crypto space. The event boasted more than 12,000 attendees and was reported by the NYTimes as “the largest Bitcoin event in the world and the first major in-person crypto conference since the pandemic started.” It was a noteworthy reminder that bitcoin has long surpassed the early adopter stage and is now clearly in the world of mainstream adoption.

Paxos’ CEO Charles Cascarilla spoke on the main stage with Galaxy CEO Mike Novogratz in a fireside chat titled, “Making Bitcoin Infrastructure Ubiquitous.” Their conversation covered fintech companies adopting crypto, bitcoin’s recent price drop, and the regulatory landscape. Here are some key takeaways:

• Bitcoin is a lot more than just its price movement-- it’s about the potential to change the financial system. Paxos is founded to be the infrastructure layer that allows blockchain and bitcoin to re-platform the entire financial system.

• The price decrease hasn’t affected the number of companies getting into crypto. We’re still seeing a profound shift in a good way that might allow almost all of humanity to access bitcoin through a digital wallet in 18 months.

• The most powerful thing about bitcoin is that no one runs it, and anyone can join it. It’s not easy for people to understand that because they’re used to a financial system that someone’s running and not everybody can participate in.

• For bitcoin to get to $10 trillion, it’s not going to be a straight line. It can’t happen tomorrow. It takes time and the changing of people's mindsets through understanding that it’s a legitimate way of shaping the whole financial system.

View the recording below

https://youtu.be/bjl7suC4CVU