Nosov believes that Bitcoin is not about anarchy, but of better controlling money.
For the entrepreneur, Bitcoin is above all an excellent value reserve.
Volodymyr Nosov talks to the authority of whom He has been leading one of the most relevant exchanges in Europe for more than 7 years.
His presence in the Cryptocurrency International Cup (ICTC 2025), organized by his own company Whitebit – where he was interviewed by Paulo Márquez, journalist of cryptootics – goes far beyond institutional representation.
Each response, each statement, each observation of yours reveals that it not only directs a company: it also has a clear and provocative vision of the future of the Bitcoin industry (BTC) and cryptocurrencies.
“When some in the industry think of cryptanananarchy, they are misunderstanding everything,” he shoots bluntly. “It’s not about anarchy, it’s total control.”
From your point of view, The most important thing of the movement of cryptocurrencies It is not in a libertarian utopia, but in a verifiable and audited structure that allows to control – yes, control – better money.
“Bitcoin and cryptocurrencies arrived to make the most controllable finances,” insists the Ukrainian businessman, who seeks to make it clear that his vision of the industry is in the antipodes of cryptanananarchy and similar ideologies.
Nosov leaves a message that could well be considered the heart of the entire interview. There, give his opinion about What is Bitcoin, according to him.
Although Satoshi Nakamoto conceived BTC as an “electronic cash between peers”, with all that this implies (account unit, means of payment and reservation of value) the founder of Whitebit particularly rescues the idea of Value reserve.
“The main idea of Bitcoin, from the beginning, is that it is a reserve of value. Of course it can function as a means of payment but, above all, it is a reserve.”
Volodymyr Nosov, Whitebit CEO.
Whitebit’s CEO, a declared Bitcoin enthusiast, is not afraid to challenge “sacred cows” or go against the current. His message can sometimes be provocative and controversial, but also practical. The future, according to Volodymyr Nosov, will be bitcoinized … but it won’t be chaotic. It will be regulated, controlled and – especially – developed by those who really understand how the system works.
And if someone still doesn’t understand it, He suggests starting for only one thing: “Explore, educate and think about the future.”
The truth about gold (and why Bitcoin is different)
When touching the gold narrative as a value reserve, Nosov does not spare in irony: “Who really verifies that gold is limited? Do you know? I don’t. And that is why this is probably the biggest joke in history.”
In contrast, he values that Bitcoin “has audits, not the Big Fourbut audits from all over the world. They are 15 years of audits. The greatest in history. ”
By saying this, it refers to that Anyone can see Bitcoin’s accounting book In any block explorer. Everything that happens in the Bitcoin Network is indelible in the network accounting file.
Therefore, Whitebit’s CEO is convinced that new generations, raised with iPads and accustomed to digital verification, will not blindly trust traditional assets: “They need evidence. And Bitcoin offers all those tests.”
For him, BTC is, first of all, a value reserve: “It has a limited amount, complete audit and many other elements that can be verified.” But that does not exclude other uses: “It is also possible to use it for payments. We know many different technologies, such as the Lightning Network … and this is just the beginning.”
Lightning Network: Potential with reservations
About Lightning Network (Second Bitcoin layer scalability solution), Nosov is prudent. While recognizing its potential, it points out that He still faces difficulties: “We have tried it a lot. And when we try to implement it in B2B connections (Business-to-Business), we find many aspects that still need adjustments. ”
Although some great players in the sector – as Revolution or Coinbase – have begun to adopt it, he prefers to wait: “I need to see how it works in practice, in real life. Because, honestly, I have not tried it with a large number of customers.”
And he concludes: “Perhaps on the next iteration – or maybe in two more – Lightning Network could be truly ready.”
Whitebit, their reservations and the role of the stablcoins
The conversation becomes more technical when addressing the reserves of the exchanges. What is more important today: Bitcoin or the stablcoins? The answer depends on the business model: “If the main business is centered on the FÍAT, then its reserves will be a combination of Fíat with Stablecoins. But if it is a custodian exchange, you have to look at the bitcoins or the Ethers.”
However, Nosov warns about appearances: “What happens if I take a large line of credit in Fíat, I buy Bitcoin, I close the hole in the balances with those bitcoin and then I show you only the reserves in Bitcoin? What does that solve that? Nothing. Especially if you are a retail client.”
The message is clear: Without a reliable audit, any information about reservations can be an illusion.
Security and true Achilles heel: developers
Following recent incidents, such as Bybit’s hacking linked to the Lazarus group that was timely reported by cryptooticias, Nosov underlines a structural problem: third -party software dependence.
“Every time you acquire external software, you don’t know what black holes you could be opening. The only companies that can handle this are those that develop their own technology.”
Volodymyr Nosov, Whitebit CEO.
And here appears its most forceful diagnosis: “99% of exchanges are White Label. They work with just five people in the team. When something happens, they call the developer who sold them the software. Five hours later, everything is terminated. And then we read: ‘The hacker stole funds.’ Yes, but even my mother could have stolen that money if I explained how. ”
According to your data (which, according to Other estimates They could be outdated), throughout the world there are only 7,000 developers specialized in cryptocurrency networks (or “in blockchain”, as he calls it). Details: “1,500 in the United States; 500 in Europe; 5,000 in Asia; and many of the Asians work as outsourcing in similar products with each other ”.
That is why he sees with concern the future of Europe: “Regulators and politicians are not understanding what is happening at this time. Meanwhile, the United States is doing everything possible to hire all developers and teams that you can.”
Everything in one? Whitebit’s plan
Although without being able to give details for being subject to a confidentiality agreement, Nosov implies that Whitebit plans to expand towards traditional financial products. “Yes, I think in a few months,” he said. It is worth clarifying that there are already cryptocurrency exchanges that allow the sale of shares, for example Bybit Or, in Argentina, goodbit.
The logic behind this decision is clear: “Everything in one. You will have everything you use daily, everything you need for the present and the future, available instantly.”
And he adds: “When cryptocurrency specialists access this type of assets [financieros tradicionales]for us it is easy. We are blockchain experts. But for traditional brokers it is different. If you want to incorporate many resources from the world of cryptocurrencies, they need developers. And where do you get them? There is the problem. ”
Therefore, although it does not forecast the total disappearance of Traditional brokers anticipates that “they will lose relevance” For a period, until the market adapts.
Token Whitebit’s performance
Since March 2023, the native Whitebit (WBT) token has shown a remarkable appreciation, as can be seen in the following coinmarketcap chart:
The reason? “It’s an infrastructure product,” says Nosov. “It is directly linked to all the ideas and functionalities of our platform. And within our infrastructure we have 12 different products.”
Each new development is integrated with Token and, in addition, the company has been reducing the amount of tokens in circulation by continuous burning. “The community grows, B2B partners grow, and low circulation. It is a fairly simple dynamic of understanding.”
