Dan Held, founder of Asymmetric, recently discussed on the Supply Shock podcast how Bitcoin DeFi represents a significant opportunity to tap into the potential of Bitcoin as a $300 trillion global asset. He emphasized the benefits of earning yield on Bitcoin lending, a financial function that DeFi can replicate without intermediaries. Initially skeptical about DeFi due to its association with scams, Held changed his perspective after observing the innovative use cases emerging on platforms like Ethereum and Solana. He believes that while Bitcoin DeFi may not completely replace other blockchains, it will absorb significant market share, thereby increasing Bitcoin's overall dominance. Recently, Held founded a venture capital firm that invests in Bitcoin DeFi startups. However, he acknowledged the challenges Bitcoin faces, particularly regarding user experience compared to other platforms known for lower transaction costs. He is optimistic that Bitcoin’s layer-2 solutions will enhance this user experience and drive more interest and demand in Bitcoin.

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