Detroit-based Benzinga, a media and data provider bridging the gap between retail and institutional investors, sent its team to Miami, Florida, for Bitcoin 2023. During the event, Benzinga sought to recognize the innovation in digital assets broadly and spoke with founders, investors, and beyond. The following is a conversation with Mike Germano, President of Bitcoin Magazine.
The conversation has been edited for clarity.
Q: Hi, Mike; nice to meet you. Care to start with an introduction?
Mike Germano: My journey to becoming the president of a Bitcoin-focused media company is unique. It all started with my background in building websites and creating a social media agency in college. Using Facebook, I managed to get elected to public office, gaining attention for my innovative use of social media. During my term, I learned about the challenges of politics and government. I only lasted one term because I put a GPS unit in all the union’s cars to hold them accountable. Fast-forward, I sold my agency to Vice, where I became the chief digital officer and played a vital role in the company's growth. It was during this time that I developed an interest in Bitcoin BTC/USD, thanks to Vice's coverage of it. Anyways, after leaving Vice, I reconnected with the Bitcoin Magazine team, whom I had known for some time, I wanted to buy their company and print a magazine at Vice, too. Bitcoin Magazine, although lacking extensive media experience, had a brilliant team of experts. I saw an opportunity to help grow the company and leverage my previous experience running a media company. I wanted to change the perception of Bitcoin in the media, moving away from the focus on wealth and materialism. Instead, we highlighted the technology's potential for financial freedom and inclusion, especially for the unbanked. This mission became part of our visual storytelling, crucial in helping the world understand Bitcoin. Bitcoin Magazine and the Bitcoin conference became platforms for showcasing the true essence of Bitcoin and the counterculture movement.
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The team has conferences all around the world now, right?
Our conference stands out because it focuses exclusively on Bitcoin. This exclusivity allows us to attract top-notch speakers who understand the significance of a Bitcoin-only event. Other conferences with altcoins might miss out on these speakers as they prefer to be associated only with Bitcoin. Though this approach limits our sponsorship opportunities and potential revenue, it also enables us to build trust with the best speakers in the world. We have established a strong network of Bitcoin companies that support us. We want to preserve our culture and community, which have been evolving for 10 years, and ensure that the first encounter with Bitcoin is a meaningful one. We believe that understanding Bitcoin first is the safest and most valuable approach. Bitcoin, in our opinion, is the most important cryptocurrency. To expand our reach and accommodate international attendees, we organized the conference in Amsterdam due to the COVID-19 lockdowns, allowing people who couldn't travel to participate.
Why Amsterdam?
Historically, Amsterdam was part of a prominent empire that understood the value of money. The city has a solid capitalist spirit and is known for its openness, not just in terms of the Red-Light District or cannabis but also in its overall approach. Amsterdam has naturally embraced Bitcoin culture, and even Bitcoin 2013, organized by different individuals back then, took place in this city. As our company grows, we aim to find talented Bitcoin enthusiasts, and we were fortunate to have partners in Amsterdam who had already organized exceptional events aligned with our vision. We are exploring the potential of expanding to other cities and catering to the growing interest, especially among those relatively new to Bitcoin.
Talk about how your team looks at onboarding new people into the Bitcoin community, and how you carry people at different levels once onboarded.
We have a responsibility to guide individuals down the Bitcoin rabbit hole. The question is whether we should engineer the most efficient process for this, or provide a wide range of information for people to educate themselves through. Typically, businesses have marketing funnels and plans, but it's different for us. When someone buys Bitcoin, it doesn't directly benefit us financially. We are a platform for sharing information. We offer Bitcoin Magazine Pro, a subscription service with daily content that caters to those involved in Bitcoin trading and finance. We also have an educational component called "21 Days Of Bitcoin," designed to help people get started. Additionally, we provide mining content for a specific group of individuals interested in that area. Striking the right balance is crucial. We don't want to exert too much control over new Bitcoiners because the community would revolt against it. We support Bitcoin Magazine meetups worldwide and assist through our meetup network; we help organizers with information and resources to improve their meetups. It's essential to build a strong community, which requires consistent effort, even during bear markets when some hosts may lose interest due to financial gains. We aim to be a distributed platform, offering information and support to Bitcoiners and fostering collaboration and growth.
What are you most excited about in 2023 and beyond?
Bitcoin serves as a universal language that connects people worldwide. We have a responsibility to disseminate information about Bitcoin on a global scale. We are putting in tremendous effort to translate our content, establish offices in various parts of the world, and organize events that foster unity. We are on the front lines of a significant cultural battle, proudly fighting for Bitcoin. We must expand the reach of Bitcoin globally. We plan to host more international events, create global content, and bring our message to mainstream audiences. Just look at our stage, featuring individuals like Robert F. Kennedy Jr. This year, the mainstream will finally grasp that Bitcoiners hold values worth embracing and investing in.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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