Crypto

Bitcoin Suisse explains why Switzerland is a crypto hub: Davos 2023

Switzerland is a “pivot point” for crypto adoption in Europe and continues to be the “focal point for the next stage of institutionalization,” said Bitcoin Switzerland CEO Dr. Dirk Klee.

The CEO explained why Switzerland is still the number one spot for crypto in Europe and will continue to attract institutional investors in an exclusive interview with Cointelegraph at Streetside in Davos, Switzerland.

In a chat with Cointelegraph reporter Gareth Jenkinson, Klee explained:

“A lot of trust has been destroyed and eroded over the last year and we want to be kind of the focal point for the next stage of institutionalization, you know, making the place more accessible, easier to use, but also safer.”

Founded in 2013, Bitcoin Suisse is one of the oldest Bitcoin (BTC) and crypto firms specializing in asset storage, including “custody solutions deep in the Swiss mountains,” Klee said.

Switzerland is a well-known haven for crypto in Europe. The landlocked country is recognized for its role in the creation of Ethereum (ETH), and houses crypto valley — a favorable environment for blockchain and cryptocurrency businesses.

Switzerland is known for the “Crypto Valley”, in the canton of Zug.

Switzerland also owns Bitcoin and city ​​of Lugano, crypto-friendly, which hosts an annual Bitcoin conference and has even incorporated McDonald’s to accept Bitcoin Lightning.

Related: Putting carbon credits on blockchain won’t solve problem on its own: Davos

However, even in Switzerland, crypto confidence has taken a hit in 2022, especially in FTX light debacle and its contagion effects through crypto: “This is a setback for the industry. It destroyed a lot of trusts and, you know, hurt a lot of investors as well,” Klee explained.

In such an environment, it is useful to return to historical Swiss values. Switzerland remains a “safe place to do business”.

“Swiss finish, Swiss quality is a narrative and a sign of quality that this industry needs because, you know, you need a place of trust.”

Thousands of crypto enthusiasts have flocked to the World Economic Forum’s crypto and blockchain events. Hosted at the Alps headquarters in the ski resort of Davos, it seems that the global bear market has not disturbed the Swiss charm.