On April 7, Pierre Rochard unveiled a new venture dedicated to Bitcoin (BTC)-backed structured finance, named The Bitcoin Bond Company, aiming to accumulate $1 trillion in BTC for its clients by 2046.
Rochard, who previously served as the vice president of research at Riot Platforms, will take on the role of CEO for this new Bitcoin-centric initiative.
The firm intends to connect institutional funds with Bitcoin through a regulated structure that incorporates third-party custody for its products.
Bitcoin offerings tailored for institutional interests
As per Rochard, the company will focus on credit allocators looking for protection against volatility and investors willing to take equity risks in pursuit of Bitcoin’s potential advantage. Its long-term target, contingent on market conditions, is to amass $1 trillion in BTC for clients over the next two decades.
Providing additional insight into the launch’s timing and inspiration, Rochard mentioned that the idea of a Bitcoin-backed securitization firm had been in his thoughts since discovering Bitcoin, which seamlessly aligns with his expertise in asset-backed finance.
He noted that the vision became more concrete after President Donald Trump’s election, which marked a change in the regulatory landscape.
He elaborated:
“Moving forward, the SEC [Securities and Exchange Commission] will become depoliticized and merit-neutral, meaning bitcoin-backed financial products will be regulated fairly to maintain the integrity of US capital markets. This will provide established firms the confidence needed to engage positively with bitcoin.”
Rochard expressed a desire to broaden access to Bitcoin’s utility by formatting the asset into structured finance products that align with institutional demands for transparency, regulation, and risk management.
This strategy resonates with a wider trend toward institutional offerings built upon crypto-native assets, such as exchange-traded products (ETPs) and asset-backed notes.
The announcement highlighted:
“The Bitcoin Bond Company’s objective is to forge lasting connections between credit allocators and risk-takers. We can uncover value for capital markets through bitcoin-backed structured finance that ensures transparency, regulation, and effective risk transfer for this global strategic reserve asset.”
Rochard emphasized that the recent success of Bitcoin ETFs demonstrates significant market interest, asserting that these funds have become “the most successful product launches in the history of the financial sector.”
He argued that institutional investors often face limitations due to volatility, while adventurous players seek leveraged opportunities. He views The Bitcoin Bond Company’s mission as connecting these two profiles through structured instruments that cater to both.
“The Bitcoin Bond Company’s goal is to unite these two categories with responsible bitcoin-backed products that deliver long-term value for both parties.”
Utility and Satoshi’s vision
Rochard positioned the launch as part of a larger initiative to realize Bitcoin’s intended purpose as decentralized electronic cash.
He explained that Bitcoin’s ecosystem splits participants into four groups: those who reject it, cautious investors concerned about volatility, speculators aiming for superior returns, and those who embrace it completely.
He underscored that decentralization is crucial to Bitcoin’s inherent value, granting users sovereign control over their assets. Rochard concluded with the perspective that capital markets will progressively acknowledge Bitcoin as an important collateral asset.
He remarked:
“It is inevitable that capital markets will come to see bitcoin as a unique collateral diversifier in various scenarios: from sovereign debt issuance to corporate convertible bonds and asset-backed securities. Each of these will attract investors with differing goals and risk appetites. Expanding the market will increase demand for the underlying bitcoin and enhance the adoption cycle.”
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