Bitcoin's Collateral Conundrum: The Final Unlock
According to Dave Weisberger, co-founder of CoinRoutes, the biggest remaining unlock for Bitcoin is not an ETF or treasury company, but rather collateral treatment. The haircut banks face on Bitcoin is close to 100%, and once it's treated like any other asset based on volatility and liquidity, everything changes for lenders and companies like Strategy Inc.
Weisberger describes this as the 'final boss' and notes that the Basel committee and rulemakers have all described it as inevitable without it actually happening yet. He emphasizes that this is not just a matter of regulatory frameworks, but rather a fundamental change in how banks and financial institutions view Bitcoin.
When asked about tokenization, Weisberger explains that every asset will eventually be tokenized, with Wall Street backing the trend. He also touches on Hyperliquid, perpetual swaps, segregated accounts, and the appeal of controlling one's own assets. Additionally, he discusses the rise of program trading, Citadel, Jane Street, and the impact of tokenized stocks on traditional markets.