MicroStrategy isn’t the enemy. Mining monopolies are, warns Pow.re CEO originally appeared on TheStreet.

Bitcoin is closely associated with libertarian values. One of its promises is that no single person or entity controls it. This is completely opposite to fiat currencies, which are generally controlled by a central bank.

Central banks can print as much money as they like, they can remove money from the supply and set interest rates independently of what normal people actually want and need. There are countless examples of nations destroying their citizen’s wealth by printing more money.

Even before paper money existed, debasing currencies has contributed to the fall of great empires like Rome. Zimbabwe, Weimar Germany, and Argentina are more recent examples of what happens when governments hyper-inflate their currency.

Mike Cohen, CEO of Pow.re, sat down with TheStreet Roundtable’s Jackson Hinkle to discuss the increasing interest of nation-states and legacy financial institutions in Bitcoin.

Institutional and government are involvement in Bitcoin

In the last year, institutional interest in Bitcoin has skyrocketed, especially around the numerous ETFs that were launched in early 2024. Nation states have also become increasingly involved, with the U.S. considering Strategic Bitcoin Reserve bills at the state and federal level.

Another notable example is El Salvador, which has bought millions of dollars worth of the digital asset for their coffers. Several Bitcoin treasury companies like Saylor's Strategy have popped up in the last year.

These events have been decried by many Bitcoin OGs, who claim that these institutions and nations are eroding the decentralized nature of Bitcoin. Cohen believes that these concerns are overhyped, stating “I don’t think who holds the Bitcoin is ultimately the decentralization risk.”

Many point to the fact that Michael Saylor’s Strategy has accumulated roughly 2.7% of the total Bitcoin supply. However, there is nothing he can do with his Bitcoin that someone with just 1/10th or even 1/100th of a Bitcoin cannot do. His Bitcoin is subject to the same rules as everyone else in the network, a feature fiat currencies and many other cryptocurrencies lack.

Institutions benefit the Bitcoin network

As Cohen pointed out, “a bunch of sovereign wealth funds making the number go up (is) not necessarily a bad thing.”

Everyone who holds Bitcoin benefits from a higher price for the asset. At press time, the asset was valued at $105,165, according to Kraken's price feed. While he expressed disappointment that Bitcoin “hasn’t ended up in more people’s hands and a lot of it may end up in sovereign wealth funds and nation-states,” the fear that Bitcoin will lose its decentralized nature is unjustified.

The real threat to decentralization

Cohen argued that while institutional involvement doesn’t worry him, centralization of Bitcoin mining is an “existential threat to Bitcoin.” Spreading hash rate throughout the network is hugely important, as a consolidated mining network opens up Bitcoin to events such as a 51% attack.

A 51% attack would allow the controlling entity to reverse or censor transactions and monopolizes mining rewards. Even without reaching 51% control, dominant mining pools could pressure other miners into censoring transactions and would possess disproportionate control over network development.

Bitcoiners should be excited about the new interest from all arenas, but need to resist consolidation of Bitcoin miners to protect the network from those seeking to manipulate the network.

Pow.re recently signed a letter of intent to acquire Block Green AG, a Switzerland-based Bitcoin liquidity protocol, to form a leading Bitcoin credit infrastructure platform. The merger combines Pow.re’s mining expertise with Block Green’s innovative financial products, including revenue-streaming, lending, and hedging solutions, enabling miners and investors to access immediate liquidity based on future mining rewards.

Backed by Peter Thiel’s Founders Fund and others, Block Green’s Swiss regulatory license and upcoming EU MiCA applications strengthen the merged entity’s market position.

The deal, expected to close within 90 days pending approvals, will integrate Pow.re’s hashrate portfolio with Block Green’s platform, committing significant hashpower to Block Green’s marketplace for 24 months, driving new financial metrics products and ecosystem-wide innovation. This strategic combination is unique, as no other entity currently integrates sustainable mining operations with advanced Bitcoin-native financial tools at this scale.

MicroStrategy isn’t the enemy. Mining monopolies are, warns Pow.re CEO first appeared on TheStreet on Jun 5, 2025

This story was originally reported by TheStreet on Jun 5, 2025, where it first appeared.