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In the internet’s new financial system, yields are set on-chain — not by central banks. And when credit demand rises, the market will bid for the hardest, most trust-minimized asset it can find.

I call it the Collateral Gravity Well and it’s already pulling Bitcoin into the role U.S. Treasuries once played.

This shift is small now, but our models show how a tiny percentage change in Bitcoin’s use as collateral could unleash outsized price repricing.

Read the full breakdown here: https://wallstcp.substack.com/p/the-collateral-gravity-well?r=4tn15z

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