Dave Weisberger on Why Bitcoin FOMO Hasn't Even Started Yet

What happened

Dave Weisberger, co-founder of CoinRoutes, said Bitcoin's biggest remaining unlock is collateral treatment, not an ETF or treasury company. He said banks face a haircut, which means a discount applied to collateral's value, of close to 100% on Bitcoin.

Confirmed

Global impact / market context

If Bitcoin wins collateral treatment, banks could lend against it using normal volatility and liquidity rules, which means companies like MicroStrategy could borrow more cheaply against their holdings. Cheaper borrowing could fund more Bitcoin purchases and lift demand.

Analyst inference

Weisberger calls collateral treatment the final boss, meaning the last major hurdle. He notes the Basel committee, which sets global bank capital rules, and rulemakers have described it as inevitable, yet it has not happened. Until banks can count Bitcoin as collateral, large lenders stay sidelined.

Analyst inference

What to watch

1. Watch whether banks change the near-100% haircut applied to Bitcoin as collateral, which means the discount taken against its value when pledged for a loan. Confirmed
2. Watch for rulemakers, including the Basel committee, to move collateral treatment from described-as-inevitable talk into actual proposed or final banking rules. Proposed
3. Watch whether companies such as MicroStrategy gain cheaper borrowing against Bitcoin holdings, since lower haircuts could increase cash available and fund more purchases. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• youtube.com