Bitcoin FOMO Has Yet to Begin, Weisberger Says

Collateral treatment, not an ETF or a treasury firm, is bitcoin’s most important remaining unlock, says Dave Weisberger, co-founder of CoinRoutes. Banks currently face a haircut on bitcoin approaching 100%, and once it is treated like any other asset based on volatility and liquidity, everything will change for lenders and companies such as Strategy Inc (formerly MicroStrategy), he explained. Weisberger called this the final boss, noting that the Basel committee and other rulemakers have described it as inevitable but have not yet implemented it. In the discussion with Grace Remington and Sean Hagan, he also addressed tokenization, Hyperliquid, and the Federal Reserve.

• 00:00 — Why Every Asset Gets Tokenized and Wall Street Is Backing It
• 02:00 — Bitcoin, Gold, and Equities as One Global Liquidity Pool
• 03:53 — Hyperliquid’s Rise and the Appeal of Controlling Your Own Assets
• 05:27 — Perpetual Swaps, Segregated Accounts, and What Liquidations Really Mean
• 06:39 — Waves of Disruption From Program Trading to Citadel and Jane Street
• 08:06 — Tokenized Stocks, Walled Gardens, and the Open Source Alternative
• 10:05 — Why Every 25 Basis Points Adds $100 Billion to the Deficit
• 13:19 — Why ETF Money Lowered Bitcoin’s Volatility
• 15:24 — Covered Call Replacement Buying and Why FOMO Hasn’t Started
• 18:18 — Bitcoin as an Asymmetric Option and the Pristine Collateral Problem

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