Jeff Booth, a Bitcoin (BTC) advocate and author of “The Price of Tomorrow,”, has made striking remarks about Bitcoin's future. He suggested that Bitcoin's success within the global financial system alone may not be sufficient, warning that the world's largest cryptocurrency could drift from its original purpose if it came under the control of the current financial system.
Speaking on the Coin Stories program, Booth said that even with Bitcoin's widespread adoption, a scenario in which people lose their economic freedom remains possible.
Booth said that judging Bitcoin's success solely by its rising price or growing interest from institutional investors would be a serious mistake. In his view, the real deciding factor will be whether the Bitcoin network can preserve its decentralized and secure structure.
Jeff Booth: Bitcoin Could Become a New Instrument of Control
Booth argued that Bitcoin could meet a fate similar to gold's if it grows increasingly centralized within the existing financial system.
Noting that gold, though used as a store of value throughout history, eventually fell under the control of centralized institutions, Booth said a similar development could also pose a threat to Bitcoin.
Booth said that preserving Bitcoin's 21 million supply cap alone does not guarantee economic freedom. If control of Bitcoin becomes concentrated in the hands of a few institutions, he argued, the current financial order could simply continue under different actors.
While considering this possibility, the well-known figure put it this way:
“A scenario where Bitcoin wins but we lose is definitely possible. Bitcoin can continue to exist with the same supply of 21 million, but if it becomes centralized, it could transform into a different kind of control system instead of liberating people.”
Booth stressed the importance of understanding the long-term economic structures that will emerge as treasury companies accumulate large amounts of Bitcoin and as organizations build traditional financial products on top of it.
Referring to the approach taken by companies such as Strategy, Booth said there is a meaningful difference between accumulating Bitcoin through leveraged financial models and using Bitcoin directly in everyday economic activity.
However, Booth did not claim these companies would necessarily fail. He said the market would test different models over time and that some investors might bear the consequences of poor choices.
Attention Turns to the Coming 15 Years for Artificial Intelligence and Bitcoin
Another key point in Booth's remarks concerned the impact of artificial intelligence on the economic system.
Booth argued that technological progress should naturally reduce production costs and prices, but claimed the current monetary system prevents these efficiency gains from being passed on to society as a whole.
According to Booth, artificial intelligence and robotics could reach a point within the next 15 years where they take over many jobs currently performed by humans, which could make economic freedom even more important.
He warned that if artificial intelligence stays under the control of a few companies and central authorities, technological progress could be used to reinforce surveillance and control mechanisms rather than to free individuals.
At this point, he said Bitcoin has the potential to create an alternative economic system that central authorities cannot control.
Despite these risks, Booth said he remained optimistic that Bitcoin could preserve its decentralized character over the long term.
Booth highlighted the importance of developers working on privacy, payment systems, and independent communication infrastructure within the Bitcoin ecosystem, saying technologies such as Nostr and Fedimint could offer alternatives to existing centralized systems.
Booth argued that Bitcoin should be used in everyday economic transactions rather than only held as an investment, adding that it is critical for users to retain control over their own Bitcoin.
Booth advised those who want to support Bitcoin adoption to learn about privacy technologies, protect their assets, and use Bitcoin directly in their local economic activities.
The well-known figure said the future of Bitcoin will be shaped not only by the decisions of large investors, companies, or governments, but also by how individuals use the technology.
*This is not investment advice.
Source: en.bitcoinsistemi.com. Adapted by NBTC.
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