Bitcoin as a balance sheet savior: Interview with Phil Lojacono

In this interview, we talk to entrepreneur and Bitcoiner Phil Lojacono. Here you can find out how he discovered Bitcoin for himself, what plans he is pursuing with his Bitcoin business and what important role Bitcoin will play within the next few years from his point of view.

“In my opinion, Bitcoin will prevail as the hardest asset to secure all balance sheets. Be it nations, corporations or private balance sheets. There is no better asset in which you can store your monetary energy. And that will manifest itself over the next ten years.”

Portrait of Phil

I am Phil, 35 years old and was born and raised in Switzerland. After studying Business Administration and Finance & Banking, I worked at Google in Dublin. The result was Advanon, an SME financing platform, which I founded together with a Dutchman and a Swede. After six intensive years, we were able to sell in spring 2020. I then became CEO of a real estate platform. I was able to manage this for three years before moving back into entrepreneurship. I founded Berglinde AG in May 2024. A Bitcoin company with a focus on companies in the DACH region. In order to be very close to the market, we initially focus on education and consulting before creating our own product over the next 2-3 years.

My links

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Questions & answers

What sparked your interest in Bitcoin in 2015 and how has your perspective changed since then?

I've always been very enthusiastic (sometimes too much...) and therefore a big fan of new innovations. In 2015 I was at a start-up event and listened to the founder of Bitcoin Suisse pitch. Back then, I found the promise of private and competing currencies exciting.

To be honest, I had enough challenges of my own with our start-up. So back then I wasn't able to deal intensively with Bitcoin/Crypto, etc. As a result, I simply invested in a lot of cryptos with a small position and only watched the whole thing on the sidelines.

What challenges did you face in the early days of your Bitcoin engagement and how did you overcome them?

It may well be that I simply didn't care enough about it back then. But I have the impression that it was much more difficult to get the right information in 2016/2017. At least I had to make some painful learnings with various cryptos before I got to grips intensively with the technology from 2018/2019 and was able to realize that “there is no second best”.

What was the motivation behind founding Berglinde and what are your goals with this project?

As mentioned, I have been working intensively with Bitcoin from 2018. First and foremost with the technology itself. But especially after the sale of our startup in 2020 and the start of the Covid lockdowns, then with the geopolitical and macroeconomic components. I was incredibly fascinated and worked my way into various topics related to Bitcoin with a lot of enthusiasm and ambition.

As a result, both my own outlook on life changed significantly and that I was able to get to know many enthusiastic, optimistic and very intelligent people in space. In contrast, there was the disastrous media coverage of Bitcoin and the still skeptical attitude of the population. Sometimes even with people in my immediate environment. I could never understand that. Why I subscribe to the Coprnic newsletter (now Berglinde News) was launched. The aim is to simply explain the geopolitical and macroeconomic connections with Bitcoin.

At the same time, I was aware for a long time that I wanted to return to entrepreneurship after my own start-up, then as an employed CEO. This time I wanted to finance it myself and plan for the very long term. And I wanted to do that in an area that I am 200% convinced of, have great passion and am firmly convinced that I could have a positive effect on society in the long term.

How did your previous experience in the startup environment influence your approach to Bitcoin and Berglinde?

The cheap fiat money has meant that many start-ups too easily obtained too much money. Since, on a global scale, a great deal of money is being redistributed from wealthy people into education, mostly young people, and into the culture of innovation, this certainly has many positive sides.

But it is also toxic to entrepreneurship. It leads to misallocations and high costs on non-customer-oriented use cases. We, as well as many other start-ups, have made this mistake and are still making it. I wanted to prevent this by forcing myself — at least at first — to be as close to the market as possible. That means I advise customers and see where the shoe is actually hurting. A product should be created later, but based on the right market needs.

What special projects or initiatives are you planning to implement with Berglinde in the near future?

I am currently working on various projects in the Bitcoin sector. Two of them are Bitcoin mining projects, in which I work with customers to see how we use mining correctly in connection with batteries and solar energy in order to set up the energy infrastructure as sustainably and cost-effectively as possible. I am currently working with several companies to see how they can benefit from Bitcoin on the balance sheet and as a means of payment. Then I work with a bank, with which we plan possible further development steps and train staff.

But I also currently see an incredible amount of potential in the area of Bitcoin asset management. A major challenge is that Bitcoin is not yet “working”. On the other hand, there are many Fiat investors who are desperately looking for investment opportunities. The potential is very great and I have already had some exciting discussions about this.

How do you see Bitcoin's role in the global financial landscape over the next five to ten years?

In my opinion, Bitcoin will prevail as the hardest asset to secure all balance sheets. Be it nations, corporations or private balance sheets. There is no better asset in which you can store your monetary energy. And that will manifest itself over the next ten years. Many companies will follow the Microstrategy strategy and some nations will strengthen their currencies with Bitcoin on their balance sheets.

However, I do not yet expect that we will see hyperbit/inization, insofar as people all only pay with Bitcoin and store all their assets themselves. We will probably need another ten years for that.

How do you rate Bitcoin's potential to solve global economic and social challenges?

Huge. I expect that the next five to ten years will show the general population that a great many of our global problems arise as a result of the fiat money system.

The legitimate criticisms of left-wing politics that capital has decoupled itself from effective work performance require effective solutions.

The infinitely long wars, which can only be financed by fiat money, require effective solutions.

The waves of migration that arise as a result of monetary colonialism vis-à-vis the global South require effective solutions.

The disastrous de facto tax, called “inflation,” which displaces SMEs, requires an effective solution.

The sprawling, all-encompassing and far too expensive state apparatus, which centralizes power in a few hands, requires effective solutions.

Bitcoin is that solution.

What are the most important lessons you've learned from your career so far in fintech entrepreneurship and with Bitcoin that you would like to share with others?

The six most important lessons:

  1. Ideas are worthless. All that counts is the free market. Don't fall in love with your initial idea, go out and find out what the market wants. Talk to your customers and then build just that.
  2. The first step is the hardest, fundraising is the easiest. Two learnings in one. The first is “just do it.” The step into entrepreneurship is always kind of scary, but it's worthwhile on every level. And the second learning is, don't compete via fundraising, compete about customer benefits.
  3. “I have not failed. I've just found 10,000 ways that won't work”. The famous quote from Thomas Edison is right on point. Don't let yourself get down, everyone just cooks with water and everything will work out somehow.
  4. Dream long term, act short term. Your vision should be big and stick. The path to achieve this is flexible and must be adapted to the market.
  5. Be the blacksmith of your fortune. Learn from others, but make up your own mind, take responsibility, be free in your actions and activities. No one is responsible for your fate but yourself.
  6. And last but not least: There is no second best. Store your time and energy in Bitcoin. Bitcoin has the phenomenal feature that it will change you not only economically but also philosophically and spiritually. Enjoy this trip.

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