Bitcoin price not more important than financial independence: Trezor CEO

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Amid Bitcoin (BTC) seeing important value improve thus far in 2023, one trade govt pressured that there are some options of Bitcoin which might be much more essential than its value.

Matěj Žák, the newly appointed CEO of crypto {hardware} agency Trezor, believes that Bitcoin-enabled monetary independence is the highest good thing about the cryptocurrency and it’s extra necessary than its market.

“The 12 months 2023 might be marked by a consolidation of the market and for us,” Žák stated in an interview with Cointelegraph, including that now Trezor has an important alternative to enhance its merchandise to organize for the upcoming bull market.

Bitcoin’s ease of use is likely one of the main instructions that Trezor will proceed to concentrate on this 12 months as BTC and crypto are nonetheless typically seen as sophisticated technical ideas, Trezor CEO famous. “It’s our mission to make self-custody much more accessible for odd customers,” he added.

Opposite to well-liked perception, Bitcoin just isn’t an advanced software however somewhat a “easy know-how with enormous potential,” in keeping with Žák. That’s as a result of Bitcoin has unlocked distinctive options that might allow competitors with inflexible conventional monetary programs, Trezor CEO stated, including:

“While you perceive it in its broadest context, enabling monetary self-sovereignty, for instance, the worth of Bitcoin turns into a secondary consideration. Philosophically that is the place I’m at.”

The information comes amid Bitcoin seeing strong positive factors over the previous two weeks, returning to ranges previous the collapse of the FTX exchange in early November 2022. Because the starting of 2023, Bitcoin has surged 14%, briefly hitting $19,000 on Jan. 13. On the time of writing, Bitcoin is buying and selling at $18,900, or 3.6% over the previous 24 hours, in keeping with knowledge from CoinGecko.

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Trezor is one among few firms that benefited from the FTX collapse and the related disaster of centralized crypto exchanges, reporting a 300% surge in sales by mid-November. In January, the agency appointed Žák as the brand new CEO, taking up Trezor co-founder Marek Palatinus. The previous CEO will stay on the firm as an advisor to assist information the strategic and technical route of the agency.