Despite significant growth and widespread adoption by institutional investors, skepticism about Bitcoin persists. Heavyweights of traditional finance, like Jamie Dimon and Warren Buffett, continue to express doubts about the cryptocurrency’s future. This sentiment is echoed even within the technology world where some find it difficult to understand Bitcoin’s mechanics. Adam Back, a prominent figure in the crypto space and Blockstream CEO, highlights the surprising lack of understanding surrounding Bitcoin, attributing this skepticism to both financial and tech communities. His analysis suggests that even individuals with strong technical backgrounds and knowledge of encryption, peer-to-peer networks, privacy, and cryptography remain unconvinced. Back believes the non-physical nature of Bitcoin could contribute to distrust. However, he defends Bitcoin’s inherent value as a limited-supply asset designed for inflation protection. JPMorgan CEO Jamie Dimon has also expressed skepticism about Bitcoin, questioning the 21 million limit and labeling it a “hyped scam.” However, JPMorgan has actively used blockchain technology underpinning Bitcoin, highlighting their acceptance of this financial innovation. Back’s insights provide context by referencing Bitcoin’s genesis following the 2008 financial crisis and the inclusion of a newspaper headline detailing bank bailouts in its first block. He suggests that those already experiencing financial security may struggle to understand Bitcoin’s value proposition as it represents an alternative system. This article is for informational purposes only and does not constitute investment advice.