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Two of Bitcoin’s pre-eminent thought leaders are at odds with each other as to whether banks can – or should – provide sustainable yield on their customers’ BTC deposits.that Bitcoin could become a form of “perfected capital” that also generates a return for its holders through digital banking services.
“The best situation would be the United States government backing one of the ten biggest banks that then gave you yield on your Bitcoin, then made the loans,” Saylor said. In this way, he claimed firms with megalithic balance sheets like JPMorgan could generate a 5% “risk-free” yield to customers on their BTC without those customers ever having to sell it.
“If everyone’s got their Bitcoin at 5%, how are we gonna make more Bitcoin?” the economist asked. “Eventually more Bitcoin needs to be paid than there is Bitcoin in existence.”to Celsius CEO Alex Mashinsky back in 2019 before the latter’s company went under 3 years later. Mashinsky was scheduled to begin his fraud trial this week, but the trial has now been delayed until January 2025.
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