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.
Table of Contents
ToggleWho 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.
Sky Wee on Bitcoin: Power, perception and participation
The question, then, is not whether Bitcoin will survive — it will. The question is, Who it will serve? Will it remain a financial lifeline for the unbanked and underrepresented? Or will it become just another speculative asset in Wall Street’s arsenal?
“Bitcoin doesn’t need Wall Street,” Wee told me. “But Wall Street needs Bitcoin.”
That line needed repeating. He did so and elaborated: “The more the traditional system struggles, the clearer it becomes that Bitcoin is the exit strategy.”
This is the ideological battleground of the next decade. For Wall Street, Bitcoin is digital gold; a hedge, an alternative, a tool. But for millions around the world, especially in politically or economically unstable regions, Bitcoin is something else entirely: a lifeline.
Sky Wee’s early days in Web3
Sky’s journey into Web3 is rooted in his background as a competitive gamer and streamer, where he first built his audience.
“I came from the gaming world — that’s where I learned how to build a community, how to tell stories, how to engage people. Streaming taught me the importance of attention, but I wanted to do more than entertain. I wanted to empower myself.”
That desire led him into crypto during its early hype cycles.
Read also
“When I first got into Binance campaigns, people knew me as the influencer guy,” Sky said with a laugh. “But behind the scenes, I was studying projects, talking to founders, understanding tokenomics. I realised the real impact wasn’t just in promoting — it was in building and backing the right teams.”
That insight led to the creation of Sky Ventures Labs, an early-stage investment arm focused on emerging Web3 projects across Asia.
“With Sky Ventures, I wanted to give founders not just funding, but firepower,” he said. “We support projects from the ground up, from product feedback to go-to-market. We also built a KOL marketing network that helps founders launch and grow in Asia, where narratives and community are everything.”
“I’ve been lucky to ride the waves early — from gaming to crypto, from content to capital,” Sky said. “Now I want to help others do the same. Whether it’s the next builder, the next creator, or the next visionary — they need support.”
The road to Paris Blockchain Week
Wee is based in Singapore, but booked rooms with his family at Le Meridien Etoile, the hotel next to the conference center in Paris hosting the Paris Blockchain Week conference. It’s Sunday lunchtime as the show is coming to an end. I’ve driven over from the UK. The road to Paris from the UK South Coast town of Hastings is not a particularly long one, but it is tiring.
After the drive for me and a long show for Wee, both of us decided to have beer, not coffee, which makes a nice change when interviewing certain CEOs and founders who prefer to put across a manicured version of themselves and the need to be in complete control. Moreover, there also isn’t of PR professionals hovering in the background, poised to intervene if the questions were not to their liking.
Sky Wee: Europe is finding it hard to keep up with Asia
Wee is unapologetic when asked about his experience at Paris Blockchain Week and what he’s found there compared to his Singapore base.
“What I found was a powerful reminder that while Europe is moving fast, Asia’s Web3 ecosystem remains a step ahead, especially in user adoption, product innovation and community building.
“European companies tend to focus heavily on compliance and regulation, which is important but can slow down innovation. In Asia, there’s a more aggressive drive toward mass adoption, DePIN and gaming projects that resonate globally. What stood out most in Paris was the growing recognition that Bitcoin and Web3 aren’t just speculative plays.
Read also
“That said, I did find some exciting European projects making real moves. One standout was The Coin With No Name, which is revolutionising AI automation by making bot creation simple, efficient and accessible. Built on Solana, it could bridge the gap between AI, decentralisation and usability.
“I left Paris even more convinced that Bitcoin doesn’t need Wall Street for validation. Institutions may provide liquidity and legitimacy, but real power remains with the people who choose to self-custody and engage directly. The future of crypto will be decided not in boardrooms, but in wallets around the world,” he says.
It’s a nice line and one that will resonate with HOLDers and he is probably right. Wallet custodians like to think of themselves as prophets as they regularly call bull runs when they see funds moving from exchanges to wallets again and again.
Bitcoin takeaway: Don’t watch — participate
Wee’s message is clear: Bitcoin remains permissionless, borderless and apolitical. But its future depends on who engages with it. If individuals choose self-custody, education and participation, Bitcoin’s founding ideals can live on. If not, it risks becoming a tool of the very institutions it was built to resist.
Wall Street will use Bitcoin because it must. Traditional finance, in a world of declining trust and growing digitalisation, has no choice but to adapt. But retail investors, crypto-native builders, and global communities still hold the original blueprint. And with that, the conversation comes to an end, and we finish our well-deserved beers. It’s been an engaging and refreshing conversation, but Wee wants to see the sights of Paris with his family and I have to get back for the 8pm ferry back to the UK.
The last word goes to Wee whose final words echo in my ear as I later drive the car up the A26 motorway to Calais.
“Bitcoin doesn’t care who you are. It doesn’t ask for permission. It’s up to you whether you hold it, or let someone else hold it for you. That’s why it’s perfect.”
Subscribe
The most engaging reads in blockchain. Delivered once a
week.
Monty Munford
Monty Munford writes regularly for the BBC, The Economist and City AM and has been a tech columnist for Forbes and The Telegraph. He also runs a growth and visibility consultancy and has appeared at more than 200 events and conferences, interviewing figures such as Tim Draper, the late John McAfee, Sir Tim Berners-Lee, Steve Wozniak, Kim Kardashian, Guns N’ Roses and many others.
