“There’s no balance sheet in the world that can cough up a trillion dollars.” In this episode, Mauricio Di Bartolomeo explains why he believes Bitcoin-backed loans could become a $1 trillion market within the next five to ten years, and why traditional lender balance sheets cannot finance that growth alone. Mauricio breaks down Ledn’s $188 million Bitcoin-backed securitisation, the significance of its investment-grade senior notes, and how institutional capital could transform Bitcoin lending into a global credit market. He also explains partial liquidations, auto top up, tokenised gold and the potential for hybrid Bitcoin-and-gold collateral. The conversation also explores the hidden risks behind “no-liquidation” loans, why cheaper borrowing can conceal dangerous counterparty risk, and whether parts of the industry are repeating the mistakes that preceded the last crypto credit collapse. We also get into the ongoing changes in Venezuela following Maduro’s capture, the devastation caused by the La Guaira earthquakes, and why he believes the country may finally have an opportunity to rebuild. THANKS TO OUR SPONSORS: LEDN SWAN ANCHORWATCH BLOCKWARE BITKEY CAPE FOLLOW: Danny Knowles: https://x.com/_DannyKnowles Mauricio Di Bartolomeo: https://x.com/cryptonomista

The $1 Trillion Bitcoin Loan Market Is Coming | Mauricio Di Bartolomeo

What Bitcoin Did

We believe and we estimate that in not too long, 5 to 10 years, there's going to be a trillion dollars worth of Bitcoin-backed loans out there. We need to know where you're going to get a trillion dollars. There's no balance sheet in the world that can cough up a trillion dollars. We were the first company to ever do this. It is the first time S&P has ever rated a Bitcoin product and it's the first time that it's given an investment-grade rating to a Bitcoin product.

This is the first true, in my opinion, Bitcoin credit instrument. There is a maturity and there is a coupon and there is bankruptcy remoteness. Alright, Mau. Cheers man. Cheers man. Good to see you. Great to see you. Thank you for coming in for this. Hey man, my pleasure.

I've got... I listened to you on Natalie's show and you said people don't wake up in the morning and think today's a good day for a loan. That's not true. About two months ago when Bitcoin price crashed, I woke up, looked at it and went, today's a good day for a loan. That's fair. And I didn't mean that to be sort of like an absolute statement. Like there are times in the market where you see something you like and asset comes by and you're like, that's the day.

But it's usually driven because of an opportunity that lands on your lap or it's not something that you just take for the sake of having it. You take a loan to deploy it typically, right? Like most people don't borrow to keep the money, you know, borrowed. But that's more so what I meant.

The $1 Trillion Bitcoin Loan Market Is Coming | Mauricio Di Bartolomeo

Read the full transcript

The candid version is on a podcast,
not the earnings call.

The $1 Trillion Bitcoin Loan Market Is Coming | Mauricio Di Bartolomeo

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.