Why Bitcoin Collateral Is Going Mainstream

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For this week’s Thursday episode, I interviewed Matt Luongo, Founder of Thesis and Co-Founder of Mezo, and Nathan McCauley, Co-Founder and CEO of Anchorage Digital.

We discuss how Bitcoin collateral, institutional borrowing, and onchain lending are becoming core parts of modern finance. We also dive into why institutions increasingly want to borrow against Bitcoin, how regulatory clarity and qualified custody make these markets possible, and why products like Mezo’s lending and staking are giving BTC holders new ways to access yield, without selling their assets.

The conversation also explores the recent Fannie Mae and Freddie Mac signals around crypto collateral, how Bitcoin mortgages work today, the rise of BTCfi, and why DeFi lending has historically outperformed centralized lenders through past market blowups. They also break down volatility management, backtesting, risk frameworks, why conservative collateral ratios matter, and how Bitcoin’s “forever asset” narrative changes long-term financial behavior for both institutions and individuals.

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Money and people moves

1. Stripe acquires Valora crypto wallet team to expand its stablecoin operations

2. Crypto AI ‘four times better’ than ChatGPT and Grok raises $15 million (The Block)

3. Securitize hires former PayPal Head of Legal for Digital Assets Jerome Roche as general counsel

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.