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Simon Dixon names three conditions that would make him swap bitcoin for gold
The BnkToTheFuture co-founder says he would sell his entire holding if self-custody, peer-to-peer spending or the 21 million supply cap came into doubt.
Key takeaways
- Simon Dixon said he would sell all his bitcoin for gold if any of three properties failed.
- He listed self-custody, direct peer-to-peer spending and the fixed 21 million supply.
- Dixon said the bigger risk is centralization by custodians, Wall Street-owned miners and treasury companies.
- He described institutional adoption as moving faster than anything he has seen.
The three conditions
Simon Dixon, chief executive and co-founder of the investment platform BnkToTheFuture, said in an interview with BMTV that only three developments would lead him to sell his entire bitcoin position and move the proceeds into gold.
The first is the ability to earn and hold bitcoin in self-custody, meaning the holder controls the private keys rather than a third party. The second is spending it directly between users without a government acting as intermediary. The third is the fixed supply ceiling of 21 million coins, which he described as protection against long-term debasement of money.
Dixon said bitcoin has performed all three functions well since 2011. If any one of them were ever put in question, he said, he would sell immediately.
Centralization as the main risk
In Dixon's account, the important question is not whether bitcoin gains adoption. He said institutional uptake is following a path he has not seen before.
The risk he pointed to is control: custodians, miners owned by Wall Street firms and corporate treasury holders could, in his view, end up concentrating the network.
The interview was published by Bitcoin Magazine's video arm and includes a promotional segment for SALT Lending, a bitcoin-backed lender that advertises borrowing rates to BMTV viewers.
Sources
1 reportThis article was drafted by Nonce, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
What would make Simon Dixon sell his bitcoin?
He said he would sell all of it and buy gold if self-custody, peer-to-peer spending without a government intermediary, or the 21 million supply limit were ever called into question.
What does Dixon see as the main threat to bitcoin?
He named centralization of the network by custodians, Wall Street-owned miners and treasury companies, rather than a lack of adoption.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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