So here’s a twist for you: I recently helped a client resolve a major financial dispute. The kicker? The other party wanted to settle up in bitcoin, and my client flat-out refused.
That threw me. My client lives and breathes crypto. That’s what his platform is involved with every single day. If there were ever a person I’d peg as open to a bitcoin payout, it’d be him. But when the chips were down—when it was time to close a personal business deal—he wanted good old-fashioned US dollars.
Curious, I asked him why. His response surprised me, and he gave me the green light to share it here.
Yes, his business is built on web3 and crypto. But he’s also watched the landscape shift dramatically. He told me, “We’re not just in a bubble; we’re in a bubble that’s about to burst—and not in a good way.”
He pointed to recent moves by the Trump administration, which has been rolling back previous regulations intended to make crypto more transparent and consumer-friendly. The lack of policies and consumer protection now on the table and what he expects in the near future all remind him of the financial markets pre-2008. Less oversight, fewer safeguards—he believes it’s a recipe for disaster in this space. That’s why he’s converting as much of his company’s crypto liquidity into US dollars as he can, including this recent settlement. And it’s not just him. Many of his colleagues are doing the same.
I’ve written in detail about these concerns elsewhere (two recent articles are below), so I won’t rehash everything here. But I’ll say this: when someone who knows the crypto industry inside out starts having serious doubts about bitcoin’s future, that’s a signal worth paying attention to.
Please do your due diligence.
Mitch Jackson, Esq. | On Bluesky
https://bsky.app/profile/mitch.social _________
See:
1/ Crypto Déjà Vu: Are We Heading Toward a Financial Meltdown Worse Than 2008?)
2/ Beyond the Crypto Hype: What Traditional Finance Gets Right That Digital Currency Doesn’t