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Barry Silbert Promotes Positive Changes for BTC

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. Foundry and Digital Currency Group which tend to be venture capital companies specializing in funding businesses operating in the blockchain as well as digital currency sectors are also owned by Barry Silbert. Over the years Silbert has become a prominent figure in the cryptocurrency community and his efforts have helped promote positive changes for BTC. He has therefore been a key figure in the development of a number of advantageous improvements in the Bitcoin sector. Silbert has helped to shape the industry and drive its growth and some of his major contributions that have been invaluable in bringing Bitcoin to where it is today include the following.

One of such major contributions includes founding of the Bitcoin Investment Trust. Its among Silbert’s major contributions to the Bitcoin industry Bitcoin fund was introduced ion 2013 which enabled investors to obtain exposure to Bitcoin without having to buy and 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. Excessive regulation can as well stifle innovation and hinder this industry growth according to Barry. He has therefore engaged with regulators to better grasp the potential advantages of cryptocurrencies. 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. He has helped adopt with his backing Segregated Witness which is a scaling solution that expands the capacity of the Bitcoin network by segregating transaction data from signature data. The capacity of the Bitcoin network has been boosted as a result of such expansion. Some of the scalability challenges Bitcoin has encountered has been resolved at the end.

Next is him being a strong proponent of Bitcoin as a store of value. Barry Silbert thinks that the restricted supply as well as decentralized features of Bitcoin make it a compelling alterative to established reserves of value like gold. Flat currencies are intrinsically prone to inflation and manipulable by the government which has made him face criticism.

The last contribution is being a strong supporter of Bitcoin education and adoption. Silbert has funded numerous initiatives to promote Bitccoin education like Bitcoin Education Project and Bitcoin Investment Trust. Silbert has also invested in companies that are working to make Bitcoin more accessible as well as user-friendly such as Circle as well as Coinbase.

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