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This is an opinion editorial by Obi Nwosu, CEO of Fedi and member of the Trust Board.

2020 I predicted that Bitcoin will be attacked between 2018 and 2023 but would eventually be successful at its end. While I’m no prophet, it was clear to me that this was going to be a critical time for Bitcoin. When the bear market hit this year, we saw a “cleansing” of the Bitcoin ecosystem and an opportunity to refocus on its core mission of monetary freedom.

The snowball started in the heat of July with the bankruptcy of Celsius, the first sign that the ecosystem we built was not healthy. The fact that we were using a decentralized currency to mirror a centralized financial system didn’t fit the vision of Bitcoin.

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