Amidst the emergence of Bitcoin (BTC) which has seen a huge price increase so far in 2023, an industry executive emphasized that some features of Bitcoin are more important than its price.
Matěj ák, the newly appointed CEO of crypto hardware company Trezor, believes that the financial independence that Bitcoin offers is the main benefit of the cryptocurrency and is more important than the market price.
“2023 will be marked by market consolidation and for us,” Shack said in an interview with Cointelegraph, adding that Trezor now has an excellent opportunity to improve its products to prepare for the next bull market.
The CEO noted that the ease of use of Bitcoin is one of the major trends that Trezor will continue to focus on this year, as BTC and cryptocurrencies continue to be seen as complex technical concepts. “Our mission is to make self-incubation more accessible to everyday users,” he added.
Contrary to popular belief, Bitcoin is not a complex tool, but rather a “simple technology with huge potential,” according to Shack. Trezor CEO said this is because Bitcoin has unlocked unique features that can allow it to compete with strict traditional financial systems, adding:
“When you understand it in its broader context, allowing for financial self-sovereignty, for example, the price of bitcoin becomes a secondary consideration. Philosophically, that is where I am.”
The news comes amid Bitcoin making strong gains over the past two weeks, returning to levels before the FTX stock market crash in early November 2022. Since the start of 2023, Bitcoin is up 14%, briefly reaching $19,000 on January 13. At the time of writing, Bitcoin is trading at $18,900, up 3.6% over the past 24 hours, according to data from CoinGecko.
Trezor is one of the few companies that benefited from the collapse of FTX and the related crisis on centralized cryptocurrency exchanges, reporting a 300% increase in sales in mid-November 2022. In January, the company appointed Žák as its new CEO, replacing its co-founder Marek Palatinus. The former CEO will remain with the company as an advisor to help direct the company’s strategic and technical direction.
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