I believe Bitcoin-backed credit will be what ultimately gets BTC to $1,000,000+ and scale adoption to billions of people
As collateral, Bitcoin mogs every other asset:
- Easy to verify legitimacy
- 24/7 liquidity
- Fungible at any scale
- Portable
- No centralized issuer
- Accessible globally
However, I don’t believe perpetual preferred equity is going to be the tool that accomplishes this
(because it’s not actually credit)