David Tse(@dntse):Roughly 10% of gold is collateralized. Our estimate is approximately 3% of Bitcoin is. That gap is one way to think about how much room Bitcoin still has to become productive. That means all else equal, Bitcoin has another 3x more financialization on tap.

David Tse

@dntse

Professor at Stanford University ( Co-founder of Babylon protocol, Information theorist.

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David Tse@dntse

2026.10.18 13:57

Roughly 10% of gold is collateralized. Our estimate is approximately 3% of Bitcoin is. That gap is one way to think about how much room Bitcoin still has to become productive. That means all else equal, Bitcoin has another 3x more financialization on tap.