Bitcoin collateralized credit is 3,800x smaller than real estate and that's about to change…
At Bitcoin Corporate Day, our CFO Tomas Dzurilla shared where Firefish stands in building Bitcoin-collateralized credit rails.
The numbers tell the story:
◆ At $152 trillion real estate is the world's largest credit asset (thanks to modern mortgage credit rails).
◆ Securities follow at $45 trillion.
◆ Bitcoin collateralized credit? Just $40 billion today. That's 3,800 times less than real estate.
But we believe Bitcoin collateralized credit will grow 20,000% over the next 10 years.
Today, roughly 2% of Bitcoin is collateralized. In 10 years, we expect that to reach 40%, similar to real estate collateralization rates in developed countries also thanks to credit rails that we are helping to develop.
What we've already built at Firefish:
✅ Non-custodial Bitcoin-backed lending marketplace
✅ 25,000+ users
✅ Over $125 million in notional loans
✅ $300 million of value transacted
✅ 0.002% default rate
✅ Average LTV of 45%
Users have paid $1 million in interest but saved $16 million in Bitcoin appreciation versus selling, plus avoided taxable events.
The regulatory environment is supporting this growth - from SEC approval of ETPs to MiCA in Europe.
How it works: Borrowers pledge Bitcoin as collateral, lenders provide cash through our marketplace, and escrow lives on the Bitcoin blockchain. We never take ownership of the asset.
Bitcoin's usefulness is expanding beyond just holding.
Watch the video with Tomas' talk here: