Safety first: Why Adam Back says Bitcoin is winning the 'DeFi security war'

The Blockstream CEO told Consensus Miami 2026 that sovereigns, pension funds and treasury companies will join the next wave of bitcoin adoption.\nWhat to know : Adam Back said recent DeFi exploits are reinforcing institutional preference for Bitcoin’s simpler, security-focused infrastructure. He argued Bitcoin layer-2 systems could support tokenization and decentralized finance without sacrificing Bitcoin’s conservative design philosophy. Back said the next major adoption wave will come through institutional portfolio allocations, sovereign entities and pension funds gaining bitcoin exposure.