As Bitcoin’s price regains attention, driven by traditional finance (TradFi) institutions and corporations rapidly acquiring available supply, concerns are rising among proponents of decentralization. This situation raises a critical question: is this a validation of Bitcoin’s enduring value, or the onset of its absorption by the very entities it was designed to challenge?
Institutional Adoption vs. Decentralization
This distinction is vital. While institutional acceptance may seem to enhance Bitcoin’s popularity, prominent Asian influencer Sky Wee argues it does the opposite. He firmly aligns himself with the Bitcoin advocacy movement.
Boasting an impressive following of over 4 million across platforms like TikTok, Instagram, YouTube, and Facebook, along with his roles as an Official Binance Influencer and Lead Ambassador for a network of 500 Key Opinion Leaders (KOLs), Wee has established himself as a significant connector between Eastern and Western markets, promoting global adoption and strategic partnerships within the Web3 sector.
Bitcoin was originally intended as a safeguard against the conventional financial system, and now that very system is beginning to recognize its worth. Importantly, Bitcoin remains neutral regarding its ownership; it persists as a form of currency for the public as long as individuals continue to hold it.
Wee’s balanced view reflects this duality. He recognizes the potential hazards of institutional consolidation while also highlighting its advantages. “The real risk isn’t institutions buying, it’s retail not buying,” he emphasizes.
However, recent data from River indicates that retail investors currently possess 247,000 fewer Bitcoins compared to the beginning of the year, despite businesses, funds, ETFs, and governments accumulating an additional 225,000 Bitcoins. In 2024 alone, individuals sold 525,000 Bitcoins to institutions and ETFs, which collectively acquired an extra 831,000 Bitcoins. This trend suggests a troubling trajectory, with Bitcoin at risk of becoming a tool exclusively for elite financial circles. Long-time users are expressing concerns over a noticeable decline in activity within the mempool.
Who is Sky Wee?
Bitcoin maximalists might dismiss these apprehensions as the unfounded worries of a “shitcoiner,” a term used to undermine critics. Yet, Wee is genuinely committed to Bitcoin’s mission, with its principles guiding his involvement in the cryptocurrency space. He initially gained recognition in the competitive Esports arena, where his grasp of online communities, game mechanics, and streaming culture propelled him into the limelight. Rather than resting on his achievements, Wee leveraged his platform to reach new heights.
Today, he is not just a crypto influencer but also a strategic investor, thought leader, and founder of Sky Ventures. Additionally, he manages Elevate Ventures and ATF Capital, having raised over $50 million for more than 50 blockchain projects, including notable names like Manta Network and Elfin Metaverse.
His investment portfolio features a range of promising crypto disruptors such as Bracket Labs (supported by Binance Labs), Balance (E-Pal, backed by a16z), BitLayer, XYO Network, and xProtocol (backed by Dragonfly), among others.
Sky Wee’s contributions have been recognized swiftly, earning him a spot on Forbes’ 30 Under 30 Blockchain Visionaries list for 2025 and membership in the Forbes Business Council. Despite his youth, he remains focused on the mission that brought him to this point.
“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 must ensure it stays on track,” he asserts.
The Benefits and Risks of Institutional Adoption
Wee perceives institutional adoption as a double-edged sword; it introduces liquidity, legitimacy, and infrastructure while risking centralized ownership. Institutional investments in Bitcoin indicate its long-term value and lend credibility, making it more accessible with a higher price floor. However, he believes individuals retain an advantage because they can self-custody without needing permission.
Bitcoin operates continuously, without intermediaries—this is its power. Yet, Wee expresses concern that many may sacrifice that autonomy for the sake of convenience, particularly through custodial ETFs and centralized platforms. This mirrors past narratives: increased accessibility fosters adoption, which ultimately leads to consolidation. A prime example is Bitcoin mining, which transitioned from a grassroots, PC-based initiative to a sector dominated by large, technologically advanced mining farms operated by corporations with substantial resources and access to cheap electricity and custom chips. “It’s no longer in the hands of the average person,” he remarks.
Bitcoin: Power, Perception, and Participation
The pressing question now is not whether Bitcoin will endure; it will. The real inquiry is about whom it will serve. Will it continue to act as a financial lifeline for the unbanked and marginalized, or will it devolve into just another speculative asset within Wall Street’s toolbox? “Bitcoin doesn’t need Wall Street,” Wee states. “But Wall Street needs Bitcoin.”
This assertion bears repeating. He elaborates, “The more the traditional system struggles, the more evident it becomes that Bitcoin is the exit strategy.” This ideological struggle will define the next decade. For Wall Street, Bitcoin represents digital gold—a hedge, an alternative, a strategic asset. However, for millions globally, particularly in politically or economically unstable environments, Bitcoin embodies something far more significant: a lifeline.
Sky Wee’s Journey into Web3
Sky’s venture into Web3 stems from his background in competitive gaming and streaming, where he first cultivated his audience. “I came from the gaming world; that’s where I learned to build a community, tell stories, and engage people. Streaming showed me the value of attention, but I aspired to do more than simply entertain; I wanted to empower myself,” he explains.
This desire led him into the cryptocurrency realm during its early boom phases. “When I first got involved with Binance campaigns, people recognized me as the influencer guy,” Sky recalls with a chuckle. “But behind the scenes, I was analyzing projects, conversing with founders, and grasping tokenomics. I realized the true impact lay not solely in promotion but in supporting and building the right teams.”
This realization resulted in the establishment of Sky Ventures Labs, an early-stage investment initiative dedicated to emerging Web3 projects across Asia. “With Sky Ventures, I aimed to provide founders not just with funding but with the necessary resources to succeed,” he said. “We back projects from inception, offering product feedback to market launch. We also created a KOL marketing network to assist founders in launching and growing within Asia, where narrative and community are paramount.”
“I’ve been fortunate to navigate the transitions from gaming to crypto, from content creation to capital investment,” Sky reflects. “Now, I want to help others achieve similar success, whether they are the next builder, creator, or visionary seeking support.”
The Road to Paris Blockchain Week
Although based in Singapore, Wee booked accommodations for his family at Le Meridien Etoile, situated next to the Paris conference center hosting Blockchain Week. As the event neared its conclusion on a Sunday afternoon, he had driven over from the UK. The journey from Hastings on the South Coast to Paris may not be lengthy, but it can be exhausting.
After a long drive and an eventful conference, both Wee and I opted for beer over coffee—an enjoyable change from some interviews with CEOs and founders who tend to present a polished image and maintain strict control over their narratives. Additionally, we were free from PR professionals hovering nearby, ready to intervene if the conversation took an unexpected turn.
Europe vs. Asia in Web3 Development
When asked about his observations during Paris Blockchain Week, Wee candidly discussed his experience compared to the environment in Singapore. “What I encountered was a potent reminder that, while Europe is progressing, Asia’s Web3 ecosystem is still a step ahead, particularly in terms of user adoption, product innovation, and community engagement,” he stated.
He noted that European companies often prioritize compliance and regulation, which, while essential, can hinder innovation. In contrast, Asia demonstrates a more aggressive push toward widespread adoption, decentralized physical infrastructure networks (DePIN), and gaming projects with global appeal. What resonated most during the event was the growing acknowledgment that Bitcoin and Web3 extend beyond mere speculative investments.
Nevertheless, he did discover some intriguing European projects making significant strides, including The Coin With No Name, which is transforming AI automation by simplifying and enhancing bot creation, making it more efficient and accessible. Built on Solana, this project could bridge AI, decentralization, and usability.
After leaving Paris, I felt even more convinced that Bitcoin does not require Wall Street’s endorsement. While institutions may offer liquidity and legitimacy, real power lies with individuals who choose to self-custody and engage directly. The future of cryptocurrency will be shaped not in corporate boardrooms but in wallets worldwide, he asserts.
Final Thoughts on Bitcoin’s Role
Wee’s message is unequivocal: Bitcoin is fundamentally permissionless, borderless, and apolitical. However, its future hinges on who chooses to engage with it. If individuals opt for self-custody, education, and active participation, Bitcoin’s foundational ideals can persist. Conversely, if not, it risks becoming a mechanism of the very institutions it was created to counter.
Wall Street will inevitably utilize Bitcoin due to necessity. In a landscape marked by dwindling trust and increasing digitalization, traditional finance must adapt. Yet, retail investors, crypto-native innovators, and global communities still retain the original framework. As our conversation concludes over a well-deserved beer, Wee expresses a desire to explore Paris with his family, while I must return to catch my evening ferry back to the UK. His parting words resonate as I drive along 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 what makes it perfect.”
