CoinRoutes' Dave Weisberger Says Bitcoin's Bank Collateral Rule Is the Real Unlock
CoinRoutes co-founder points to bank collateral rules, not ETFs
Dave Weisberger, co-founder of CoinRoutes, said the biggest remaining barrier to wider institutional use of Bitcoin is not exchange-traded funds (ETFs, which are funds that trade on stock exchanges) or corporate Bitcoin treasury companies. It is the way banks treat Bitcoin as collateral, he said in a Bitcoin Magazine video published on September 23, 2026.
He said banks apply a haircut to Bitcoin that is close to 100%. A haircut is the discount a lender applies to an asset used as security for a loan, meaning the asset is counted as worth far less than its market value. He said that once Bitcoin is treated like any other asset, with its risk judged by volatility and liquidity, the change would matter for lenders and for companies such as Strategy Inc, formerly known as MicroStrategy.
Weisberger described the issue as "the final boss," according to the article. He also noted that the Basel committee and other rulemakers have described the change as inevitable, but that it has not happened yet.
Key points from the conversation
- Weisberger called the near-100% bank haircut on Bitcoin the biggest remaining unlock, saying ETFs and treasury companies are not the main hurdle.
- He said that if Bitcoin were treated like other assets based on volatility and liquidity, it would change conditions for lenders and firms like Strategy Inc.
- He said rulemakers, including the Basel committee, have called the change inevitable, while it remains undone.
- The discussion with Grace Remington and Sean Hagan also covered tokenization, Hyperliquid, the Federal Reserve, perpetual swaps, segregated accounts, liquidations and tokenized stocks.
- Other topics included how ETF money lowered Bitcoin's volatility and why he believes FOMO, or fear of missing out, has not started.
What is confirmed and what is not
What is confirmed: Bitcoin Magazine published a video interview on September 23, 2026, written up by Patrick Green, featuring CoinRoutes co-founder Dave Weisberger in conversation with Grace Remington and Sean Hagan.
What comes from Weisberger's own remarks rather than from a primary or official source: the size of the haircut, the claim that rulemakers see the change as inevitable, and his view that collateral treatment would be more important than ETFs or treasury companies. No official document or statement from the Basel committee or any regulator is included in the source material to confirm those points.
Timing and details remain open
The source material does not give a date, deadline or decision process for any change to how banks treat Bitcoin as collateral. It also does not name specific rules or regulators beyond the reference to the Basel committee, and it does not include a response from any bank, regulator or company named.
Why the collateral question matters
In Weisberger's account, collateral rules decide how much a lender can safely count against an asset when it makes a loan. He argues that as long as Bitcoin is discounted almost entirely, banks cannot use it the way they use other assets, which limits what lenders and Bitcoin-holding companies can do.
The video also frames the topic in a wider context, including tokenization, changing market structure and the effect of ETF inflows on Bitcoin's volatility. Those points are presented as his views and observations during the conversation, not as confirmed outcomes.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.