Adam Back: Pension and Asset Management Funds Could Drive Bitcoin’s “Third Wave” Adoption

Blockstream CEO and co-founder Adam Back said pensions, managed funds and model portfolios could make up a third wave of large-scale Bitcoin adoption, following individual investors and spot ETFs. According to ChainCatcher, Back said this wave has yet to arrive in significant size, though Swiss banks are preparing for it. The Bitcoin Magazine interview also covered Swiss banks’ demand for quantum-resistant Bitcoin custody, tokenized money market funds and stablecoins, tokenized stocks on the Liquid network using Blockstream AMP, and barriers to institutional adoption. Back discussed whether institutions should manage custody themselves or use third parties, how regulation shapes Bitcoin custody, and the effect of Basel rules on the cost of holding Bitcoin. Blockstream recently opened an office in Lugano, Switzerland, and began offering consulting services.