Bitcoin Magazine Let’s Not Create $200 Trillion in Credit on Top of Bitcoin

The purpose of Bitcoin is to definancialize the world, not refinancialize it.

And so when I heard Strategy Executive Chairman Michael Saylor say at the Bitcoin Treasuries Unconference yesterday that he wants to see $200 trillion in credit built on top of bitcoin once it hits a $100 trillion market cap, I felt uneasy.

Then, when I heard Coinbase CEO Brian Armstrong send a similar message this morning, I started to feel like we’re very much losing the plot.

For those who aren’t well-versed on Bitcoin’s origins, it was born from the great financial crisis of 2007-09, which was the result of a highly leveraged, overfinancialized system.

When I think about Satoshi Nakamoto coding Bitcoin, I don’t think of someone (

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