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Bitcoin investor Willy Woo declared the cryptocurrency the “perfect asset” for the next 1,000 years but warned it must attract far more capital to rival gold or the US dollar. Speaking at the Baltic Honeybadger conference in Riga, Latvia, Woo noted Bitcoin’s $2.42 trillion market cap is still far behind gold’s $23 trillion and the US dollar’s $21.9 trillion supply.
Concerns over corporate Bitcoin treasuries dominated Woo’s remarks. While companies are driving adoption, he cautioned that little transparency exists around their debt structures, risking a potential “treasury bubble.” Reliance on spot Bitcoin ETFs and institutional custodians like Coinbase, instead of self-custody, could also place large Bitcoin holdings within reach of governments, increasing the risk of a “nation-state rug-pull.”
Fellow panelists, including Blockstream CEO Adam Back, acknowledged the risks but argued companies remain the most logical entry point for adoption. Back said businesses unable to outperform Bitcoin should consider holding it directly, while Woo stressed that true long-term resilience depends on widespread self-custody—from corporations to individuals.
