As Bitcoin’s price surges back into headlines, fueled by TradFi institutions and corporations gobbling up all the supply, so too have fears increased among decentralization purists.
Is this validation of Bitcoin’s long-term value or the beginning of its co-option by the very forces it was created to resist?
It’s an important distinction. Institutional adoption may appear to popularize Bitcoin, but top Asian influencer Sky Wee argues it’s the opposite; he is firmly encamped in the Bitcoin evangelist camp.
With more than 4 million followers across TikTok, Instagram, YouTube and Facebook and as an Official Binance Influencer and Lead Ambassador for a 500-strong network of Key Opinion Leaders (KOLs), Wee has become a critical bridge between East and West, driving global adoption and strategic collaboration in the Web3 space.
“Bitcoin was always meant to be a hedge against the traditional financial system. “What’s happening now is that the system itself is starting to acknowledge its value. Bitcoin doesn’t care who owns it. It remains ‘people’s money’ as long as people keep holding it.”
This is where Wee’s pragmatic idealism comes to the fore. He’s aware of the dangers of institutional consolidation, while also acknowledging the benefits. “The real risk isn’t institutions buying, it’s retail not buying,” he tells me.
Unfortunately, the latest figures from River show that individuals now hold 247,000 fewer Bitcoin than at the start of the year, even as businesses, funds, ETFs and governments have grown their holdings by 225,000 Bitcoin.
In 2024, individuals sold 525,000 Bitcoin to institutions and ETFs, which amassed an extra 831,000 Bitcoin. The direction of travel is now clear, with Bitcoin in danger of becoming the cryptocurrency of elite finance. Long-term users have begun to sound the alarm about a slowdown in activity in the mempool.
Who is Sky Wee to talk about Bitcoin?
Bitcoin maximalists will no doubt write these concerns as the musings of a shitcoiner — which is the “perfect rhetorical fortress” they erect to combat any criticism. But Wee genuinely believes in Bitcoin’s mission, and its ideals underpin his interest in the space.
Wee first made waves in the high-octane world of competitive Esports, where his understanding of online communities, game mechanics and streaming culture propelled him into the public eye. But unlike many digital influencers who plateau and rest on their laurels once they have reached a certain level of followers, he pivoted and went up to another level.
Today, Wee is more than a crypto influencer; he’s a strategic investor, thought leader and founder of the aforementioned Sky Ventures.
He also serves as managing partner at Elevate Ventures and ATF Capital, with more than $50 million raised across more than 50 blockchain initiatives, including standouts such as Manta Network and Elfin Metaverse.
His investment portfolio reads like a who’s-who of crypto’s most promising disruptors, such as Bracket Labs (backed by Binance Labs), Balance (E-Pal) (a16z-backed), BitLayer, XYO Network, xProtocol (supported by Dragonfly), among many others.
Recognition for Sky Wee’s work has come quickly. He was named one of Forbes’ “30 Under 30 Blockchain Visionaries” for 2025 and has been accepted into the Forbes Business Council. Yet for somebody still young, Wee seems grounded in the mission that brought him here.
“I’ve always believed in giving power back to the people. That’s why I moved from gaming to crypto. It’s about ownership of your assets, your identity, your data. Bitcoin started that conversation. We have to make sure it stays on track.”
Sky Wee on the benefits and risks of Bitcoin institutional adoption
In Wee’s view, institutional adoption is a double-edged sword: it brings liquidity, legitimacy and infrastructure, but also risks centralizing ownership.
“Institutions accumulating Bitcoin signals long-term value. It brings credibility, easier access and a higher price floor. But individuals still have the edge, they can self-custody without permission.”
“Bitcoin still operates 24/7, without middlemen. That’s power,” said. But he worries that many will trade that sovereignty for convenience — especially through custodial ETFs and centralized platforms.
It’s the same story we’ve seen before: accessibility leads to adoption, which leads to consolidation. Look no further than Bitcoin mining. What began as a grassroots, PC-powered movement is now dominated by high-tech mining farms in Texas and Scandinavia, run by capital-rich corporations with access to cheap electricity and custom chips. “It’s no longer in the hands of the average person,” says.
cointelegraph.com