welcome to coo insights I'm Marilyn Guzman with investing News Network I'm speaking with Adam O'Brien founder and CEO of Bitcoin we a company that provides an ecosystem of products and services to make it easy for everyday people to use Bitcoin hello Adan hello thanks so much for having me yeah good to see you again likewise so let's start a conversation I guess with just sort of like the the state of the industry the trends that you're seeing in the in the Bitcoin space in the cryptocurrency


space could you talk a bit more about that yeah I think it's been interesting to watch crypto and specially Bitcoin companies really mature over the last two years obviously it's no secret the price of Bitcoin has declined greatly over the last uh two years we're seeing a bit of a comeback now which is positive I think but I think the trend has been for these companies who are traditionally in like VC funded and in high high growth mode at all costs shift to more of a productivity and more of a


cash flow um uh position and I think that's been positive ourselves included we've been obviously uh really really focused on increasing cash flow at our business and I think what that does is it provides more stable footing for the businesses to then grow in a stable platform to then go out and grow when the market provides which it looks like is coming in um in the near future right then you've also mentioned you know the what used to be the incident new customer budget is now you know


non-existent so could you sort of explain a little bit more about that yeah I mean frankly we were up against uh you know these growth budgets that were paying 100 200 in some cases $500 per new customer um in the existing landscape like that that single customer has to spend virtually a million dollars on the platform just to recoup the customer acquisition cost and so um I think that's healthy I think it's better for the industry where uh you're not just uh being subsidized by some VC firm


or some or some external investor um you know now our product and our business is truly funded by the fruits of our labor and I think it's a positive thing we look at cash a lot differently and I think as a whole the market and the industry will have better products for it because we won't be so focused on telling you know stories and making big promises that we can't deliver on we're going to have to put our money where our mouths are um and I think that's a positive thing for customers and


investors alike I think the last time we spoke I asked you about sort of some of the um education that needs to happen still and around the Bitcoin space like consumer education awareness about like understanding you know what it is like could you talk a bit more about how that's evolved now like in terms of um customers that are you know getting into the Bitcoin space and the the the awareness around that uh sector yeah it's been awesome to see a shift towards self- custody and a shift towards uh


people specifically the end user or the owner of Bitcoin taking the custody of their funds directly I think it's a record low the number of Bitcoin held on exchanges which is remarkable that's the safest way to buy and own Bitcoin is to hold it yourself and so that's due in part to some education but also due to some other companies who some of whom we partnered with um that help individuals sign up uh or help individuals make a wallet for themselves teach them how to use that wallet and then show them how


to fund that wallet with Bitcoin from platforms like Bitcoin well so we've been working closely with an organization called Looking Glass um two incredible individuals that uh basically just charge for their time to sit down and truly explain in a one-on-one uh kind of like white glove environment how things are going to be done how you can safely set up a Bitcoin wallet and then most importantly how to buy Bitcoin at Bitcoin well and continually adding Bitcoin to that wallet so it's been


really positive to see I love seeing more companies like looking glass um stepping up and really finding that Niche and and seeing how important it is for that Bitcoin education piece prior and previously I think we had a bunch of um kind of fly by night um people that were educating without true good uh motives they were just kind of doing it to make a sale or what have you and so having dedicated businesses within the industry setup that is really you know not just doing it for promotional reasons but that are doing it uh to


truly enable sovereignty and to truly enable the Independence that Bitcoin provides is pretty positive what's this been some of the I guess biggest questions that you're uh still getting from uh from consumers from customers or for people just wanting to find out about Bitcoin like what's the biggest questions you get yeah it is mostly around that wallet management piece um you know specifically so we have a product that allows you to automatically buy Bitcoin on a set schedule directly


from your bank account and uh because of the way that Bitcoin Works um every time you have an address uh that receives Bitcoin multiple times uh it creates kind of like a chain reaction where when you go to spend that Bitcoin the transaction is bigger which may cost um more mining fees in the future that's a little nuances like that within the Bitcoin protocol um that I think lots of customers are asking questions about specifically like I said uh that's called txid management which is a pretty


technical term so um understandable if you don't know what that means but I think U more so around like the broader wallet management and uh and how do you really secure your Bitcoin how do you make sure that your Bitcoin are safe when they are in your custody you mentioned earlier sort of the market for Bitcoin and crypto you know he's starting to get back up seems to be heating up what's driving this and why would it be what is what is different this time yeah um I mean it's hard to say


what truly drives it it seems like you know I believe in this Bitcoin mining cycle where the the supply of Bitcoin uh the supply of new Bitcoin coming into circulation effectively gets cut in half with no decrease to the amount of power required to mine it so theoretically in you know basic supply and demand econom ICS kind of dictate that the price of Bitcoin should increase when that happens but funny enough there always seems to be some macroeconomic um activity kind of that stimulates the price around that time so


it's really hard to say uh you know chicken or the egg which ones get either right now um that kind of macroeconomic is is the Bitcoin ETF chatter that's happening uh we're seeing the US on the seems like on the cusp of approving a Bitcoin ETF which uh effectively makes it easier for people to buy Bitcoin now in my opinion that's not the best way to buy Bitcoin that doesn't uh offer any level of Independence or security when you own that Bitcoin it's just price exposure which is a piece of Bitcoin


price exposure but not the full thing and so I think what it does is allows people to get get their feet wet gets people excited about Bitcoin and obviously applies a lot of buying pressure uh to the price of Bitcoin which uh ultimately increases the price of Bitcoin so if you're speaking to an investor you know I guess you are speaking to an investor um what will you tell them why should they be looking at Bitcoin well yeah Bitcoin well enables independence first and foremost it's uh it's a filter that governs all of our


decisions and so if you believe in enabling Independence for individuals then uh I would definitely encourage you to to join our mission and and help fund our mission by becoming a shareholder if you believe that the business of enabling Independence uh by making it easy to use Bitcoin buy sell and use Bitcoin all across North America now um then I think you'll love the business that we're doing we're excited about we have two different business units one Bitcoin ATM business unit that provides


cash flow um inside of our business and then we take that cash flow and we invest it into our online Bitcoin portal the Bitcoin portal we launched it uh just about a year ago now so it was November of uh of last year that we officially launched the online Bitcoin portal and uh it's been growing at a steady Pace we've been really happy seeing the volumes that have come through it and uh we're excited to continually add features and products and services that ultimately enable our end user our end customer to be more


independent because of the Bitcoin they own and so if you're excited about that mission if you're as passionate as I am about enabling Independence for individuals then absolutely join our mission and become a shareholder and now that you know uh we're almost to the end of 2023 uh can you talk about sort of your plans for 2024 what does 2024 plct for the company yeah we've got a stable footing we've got that base layer now now uh for the online Bitcoin portal and 2024 uh is really going to be a time of


growth for us so we're pretty excited to be um attacking the US market now we launched in the US last quarter uh which which really expanded the footprint basically 10x we've got 10x more customers to to attract and so now it's creating That Base customer um in the US and then adding a pretty robust referral and rewards system um to grow responsibly and to grow with customers who believe in the same Mission as us we aren't some kind company that's uh going to be selling you know whatever's hot


this cycle if it's nfts or you know few Cycles ago as iOS and and all kinds of these you know what I frankly believe are scams and and I don't believe that uh we're adding Independence or adding value to our end customer by by showing them some Fly by Night uh cryptocurrency that they can buy we believe that Bitcoin is sound money and we believe that there's a business to be made uh by enabling people to make it easy to buy sell and use Bitcoin in their every every life and that's what we're looking


forward to doing great well thanks Adam for uh sharing your insights today thank you so much for having me looking forward to shining again soon thanks everyone for watching join us again next time for another engaging conversation on CEO Insight if you like this video make sure you subscribe to our Channel and turn on notifications so you don't miss future updates and interviews see you next time