Timing the Market: Why Neil Bergquist’s Decade of Building Is Paying Off Now

Neil Bergquist spent ten years building crypto infrastructure when most people dismissed Bitcoin as internet funny money. While competitors chased quick wins during bull markets, the Coinme CEO focused on regulatory compliance, enterprise systems, and partnerships with traditional finance. That patient approach is finally generating returns as crypto enters its first truly institutional adoption cycle.

The validation arrived dramatically in 2024 and early 2025. Bitcoin surged past $90,000 following Donald Trump’s election victory. Exchange-traded funds built on cryptocurrency attracted unprecedented capital flows. Major corporations began adding digital assets to balance sheets. The infrastructure Bergquist constructed during crypto’s wilderness years became essential as mainstream finance embraced digital assets.

Market Timing: Bitcoin ETF Approval Changes Everything

The approval of Bitcoin exchange-traded funds in January 2024 marked a watershed moment for cryptocurrency adoption. BlackRock’s Bitcoin ETF alone attracted over $1.67 billion in inflows during a single week in November 2024, bringing total assets under management to $95.4 billion. For Bergquist, ETF approval validated a thesis he had maintained for over a decade.

“Everyone talked about institutional adoption coming. Well, here it is,” Bergquist observed as Bitcoin ETFs shattered investment records. The infrastructure requirements for institutional crypto adoption—regulatory compliance, custody solutions, enterprise APIs, and banking integration—were exactly what Coinme had been building since 2014.

Traditional financial institutions began reconsidering crypto strategies as ETF success demonstrated genuine investor demand. Banks that had avoided digital assets during previous cycles started exploring partnership opportunities. Regulatory clarity combined with institutional validation created conditions for mainstream adoption Bergquist had long predicted.

Foundation Building: Decade of Compliance Investment

While competitors focused on rapid user acquisition during bull markets, Coinme invested heavily in regulatory compliance and infrastructure development. The company obtained money transmitter licenses in many states—a process requiring years of regulatory engagement and significant legal investment. Most competitors avoided this complexity, choosing gray-area operations or limited geographic reach.

“From day one, we’ve worked with regulators to ensure our business complies with state and federal regulations,” Bergquist explained. “We’ve never believed in the ethos of tech companies like Facebook and Uber, which is to break things and fix them later.”

The compliance-first approach extended beyond licensing to operational systems. Coinme built Know Your Customer protocols, anti-money laundering monitoring, and fraud prevention systems meeting traditional banking standards. These investments seemed excessive during crypto’s early years but proved essential as institutional adoption accelerated.

Exodus Moment: B2B Strategy Validation

The launch of Exodus XO Pay in May 2025 represented the first major validation of Coinme’s business-to-business infrastructure strategy. XO Pay allows Exodus users to buy cryptocurrency directly within their self-custody wallets, powered entirely by Coinme’s Crypto-as-a-Service platform.

The partnership demonstrated key advantages of Coinme’s infrastructure approach. Exodus could offer crypto purchasing without obtaining money transmitter licenses or building payment systems. Users enjoyed seamless experiences—purchases completing in under 60 seconds using debit cards or mobile payments—without leaving familiar interfaces. Coinme handled compliance requirements and technical complexity behind the scenes.

Regulatory Tailwinds: Political Support Creates Confidence

Trump’s election created unprecedented political support for cryptocurrency adoption. His administration campaigned on crypto-friendly policies, including establishing a strategic Bitcoin reserve and making America the “crypto capital of the world.”

“I’ve been a crypto entrepreneur for 10 years and this is the first time crypto regulation is a priority at the federal level,” Bergquist noted after the election. The political shift represented dramatic change from previous administrations viewing crypto with suspicion.

For companies like Coinme that invested heavily in compliance, regulatory tailwinds validated years of careful preparation. Competitors that avoided regulatory engagement found themselves scrambling to achieve compliance as oversight increased.

Infrastructure Readiness: Prepared for the Moment

Coinme’s readiness stemmed from decisions made years before institutional adoption accelerated. The platform approach proved valuable as different partners required different capabilities—gaming companies needed token systems, neobanks wanted trading APIs, traditional banks required custody solutions.

“We see ourselves as just having all the ingredients to let the partner make whatever amazing dish they want to create for their customer,” Bergquist explained.

The convergence of political support, regulatory clarity, and institutional adoption creates conditions for sustained crypto growth. Companies that spent the last decade building compliant infrastructure are positioned to benefit most from this inflection point.