Dave Weisberger On Why Bitcoin FOMO Hasn’t Even Started Yet

Bitcoin’s biggest remaining unlock isn’t an ETF or a treasury company it’s collateral treatment. Dave Weisberger, co-founder of CoinRoutes, explains that the haircut banks face on Bitcoin is close to 100%, and that once it’s treated like any other asset based on volatility and liquidity, everything changes for lenders and for companies like Strategy Inc (formerly MicroStrategy). He calls it the final boss, and notes the Basel committee and rulemakers have all described it as inevitable without it actually happening yet. In this conversation with Grace Remington and Sean Hagan, he also covers tokenization, Hyperliquid, and the Fed.

Chapters:
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