Bitcoiners’ skepticism over institutions isn't going away: Preston Pysh

Concerns are rising among Bitcoiners over institutions doing “institutional-like things” with Bitcoin, Preston Pysh said in a recent podcast interview.

Early Bitcoin adopters aren’t likely to stop being skeptical of institutional adoption anytime soon, says Bitcoin venture fund Ego Death Capital co-founder, Preston Pysh.

“Part of that culture that brought it to where it is, is looking at where this is all going and saying no, no, no, no, this is all moving in a bad direction,” Pysh told Natalie Brunell on the Coin Stories podcast on Friday.

Pysh said that institutions engaging in “institutional-like things,” such as Bitcoin (BTC) derivatives, have some Bitcoiners concerned about the long-term impact and whether Bitcoin can still serve as the safe-haven asset it once was.