Bankless · Monday, July 20, 2026
Bitcoin Dave discusses Bitcoin's enduring monetary thesis and its potential evolution beyond 'digital gold' to 'digital credit.' He argues that the development of on-chain repo markets, facilitated by technologies like BitVM and ZK rollups, could unlock significant capital and increase Bitcoin's market cap, moving it from a store of value to a more active financial asset.
“I do think Bitcoin is in prime position and arguably sole position to capitalize on that.”
“The reason why it can do that is because of ZK. Yeah, I mean, so our design in particular was actually inspired, people may be familiar with this, something from Celestia called ZK Accounts, right?”
“And I think this is really the role that Bitcoin can play. If it's not currency, it's the lowest counterparty risk out there, which is why people are willing to lend these dollars into it to create these forms of Bitcoin backed credit.”