Dave Weisberger, co-founder of CoinRoutes, identifies the current collateral treatment of Bitcoin by banks as the primary barrier to institutional adoption. He notes that banks currently face a near 100% haircut on Bitcoin holdings, which restricts its use as collateral compared to traditional assets.
Weisberger describes the shift toward treating Bitcoin based on its actual volatility and liquidity as the final hurdle for the industry. He suggests that once regulators, including the Basel committee, align Bitcoin's status with other assets, it will significantly impact lenders and corporate treasury holders like MicroStrategy.
The discussion also covers the broader implications of tokenization and the evolution of global liquidity pools. Weisberger highlights the role of perpetual swaps and the rise of platforms like Hyperliquid, while noting that every 25 basis point change in interest rates adds $100 billion to the deficit.
