Bitcoin’s centralization is 'a step backwards'

From whether Bitcoin was the first ever memecoin to AI being a bubble, there was plenty of healthy debate at the Global Blockchain Congress 2025. 

So many speakers at crypto and blockchain events just repeat their sales pitches and agree with each other in a friendly yet boring manner. But there was something different about this Dubai-based event where speakers disagreed with each other and entered into proper debates on stage.

Riding the Hype Wave: The Evolution & Future of Meme Coins looked at the pros and coins of memecoins in the wider crypto community. The panel also bounced around the idea that Bitcoin was the first ever memecoin.

Many people believe this, but not Michael Terpin, founder and CEO of Transform Ventures. He is also the author of Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich. He argued that Bitcoin started out with utility from day one and has a whitepaper outlining its peer-to-peer money aspirations.

Therefore you can’t put it in the same bracket as memecoins like $TRUMP or even Dogecoin.

Staying on the topic of Bitcoin, Navigating the Future: Investment Trends in Web3 tackled the rise of the original cryptocurrency and how it was being quickly adopted by big institutions like BlackRock.

Indeed the launch of the Blackrock’s Bitcoin ETF was the most successful launch of any financial product in history, boldly stated Talal Tabbaa, CEO and co-founder of CoinMENA.

Tabbaa is a big advocate for Bitcoin and has been buying it every Thursday since 2017. However, Astrid Woollard, CIO of SMAPE Capital, is not so convinced.

“It’s a nice signal the technology is getting adopted and recognized but I think it’s sad for Bitcoin that it’s being so centralized and stockpiled. It’s a bit of a step backward.

"I’ve said it for many years but it’s not the most appealing investment if you look at other opportunities out there. 

“Also we have seen technological advances over the Bitcoin network, which is arguably nice as the first commercial application of this kind of crypto technology but there are many others."

SMAPE Capital’s fund is “very much interested in looking into the future” and is looking at how the blockchain can help when it comes to space exploration.

“If we think about human kind going inter planetary, who will really care about the US dollar being based on the US economy? It will be tokenized economies that will take centre stage.”