Bankless · Monday, July 20, 2026
The podcast explores the concept of rebuilding the global repo market on-chain, using Bitcoin as the primary collateral. Bitcoin Dave argues that by creating a superior, more efficient repo system backed by Bitcoin, significant capital could flow into the ecosystem, driven by superior economics rather than ideological alignment.
“You have to kind of rebuild the repo market, like the credit market on top of Bitcoin. You know, the repo market is really where pretty much all of the vast majority of wealth and dollars in the world exists.”
“And when that happens, you will start amassing huge, sickening amounts of capital into Bitcoin, not because they care about Bitcoin or they're aligned with the values, but simply because the economics for the dollar system are superior.”
“So your answer to like, why this is just the most effective thing we can do in order to increase the value of a Bitcoin is that we want to have a Bitcoin-backed repo market and you do that with a BitVM number four or whatever.”