Bitcoin (CRYPTO: BTC) could benefit from a growing shift toward BTC-backed credit products targeting the $300 trillion global fixed-income market, according to Richard Byworth, managing partner at BYZ Partners.
Can Bitcoin Disrupt The $300 Trillion Debt Market?
In an interview with Bitcoin Magazine on Sunday, Byworth said Strategy (NASDAQ:MSTR) is targeting the global bond market through perpetual preferred equity products, offering attractive yields backed by Bitcoin-heavy corporate balance sheets.
He highlighted growing competition from Strive (NASDAQ:ASST) and potentially Metaplanet, arguing that these products could attract capital traditionally allocated to government bonds.
He also expects Bitcoin-linked credit products to expand into diversified investment funds and potentially sovereign financing.
Byworth said several countries are exploring Bitcoin-backed bonds to finance energy infrastructure and mining operations, potentially reducing their reliance on traditional lenders.
Another BTC Rally Approaching?
Despite Bitcoin consolidating around $82,000, Byworth claims selling pressure is approaching exhaustion.
CryptoQuant analyst Axel Adler Jr. voiced a similar opinion, pointing to long-term holder supply between Oct. 6 and Oct. 10 contracting on 13 of 15 days.
This marked the highest spending frequency in a year and by Oct. 19, that reading had fallen to 10 days.
Holdings increased by 40,000 BTC over the past three days, despite declining 9,000 BTC over the past week.
Adler said a decline in spending frequency toward seven out of 15 days, accompanied by rising holdings, would signal easing supply pressure.
However, a rebound toward 13–15 days of selling could indicate renewed distribution, potentially limiting Bitcoin’s recovery.
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