Positive Changes for BTC Promoted by Barry Silbert

Barry Silbert is a well-known entrepreneur as well as investor who has made significant contributions to the world of cryptocurrency and also owns Gensis Trading and Grayscale investments. He tends also to be the founder and CEO of Foundry and Digital Currency Group, venture capital companies that specializes in funding businesses operating in the blockchain and digital currency sectors. Barry Silbert has become a prominent figure in the cryptocurrency community over the years as his efforts have helped promote positive changes for BTC. This has made him to be a key figure in the development of a number of advantageous improvements in the sector. The following are some major efforts he has impacted in the Bitcoin sector of its growth and shaping it today.

One of such major contributions includes founding of the Bitcoin Investment Trust. Its among Silbert’s major contributions to the Bitcoin industry It was such a great fund that was introduced in 2013 thereby helping investors be exposed to Bitcoin without having to buy as well as hold the digital currency themselves. This move helped legitimize Bitcoin as an investment asset and it helped pave the way for the development of other Bitcoin investment vehicles.

Next is being a vocal advocate for Bitcoin regulation. There is need for governments to regulate the cryptocurrency industry as a way to protect consumers thereby prevent fraud according to Silbert. Silbert also notes that excessive regulation can stifle innovation and hinder the growth of the industry. Silbert has therefore engaged with regulators to better grasp the potential advantages of crypto currencies. Silbert has also assisted in developing regulations that encourage innovation while safeguarding customer interests

Silbert has been a strong advocate for Bitcoin scaling solutions in addition to his work with regulators. Silbert has helped adopt SegWit with his backing to expand the capacity of the Bitcoin network. In order to boost the capacity of the Bitcoin network, he has backed the adoption of Segregated Witness a scaling solution that separates transaction data from signature data. This has been beneficial in the sense that it has assisted resolve some of the scalability challenges that Bitcoin has encountered.

The other one is he has been a strong proponent of Bitcoin as a store of value The restricted supply and decentralized features of Bitcoin makes it a compelling alternative to established reserves of value like gold according to Barry. Additionally he has been outspoken in his criticism of flat currencies which he view as intrinsically prone to inflation and manipulable by the government.

The last contribution is being a strong supporter of Bitcoin education and adoption. Some of initiatives he have funded to promote Bitcoin education includes Bitcoin Education Project and Bitcoin Investment Trust. Circle and Coinbase are some companies he has invested in that are making Bitcoin more accessible and user friendly.