Onramp Bitcoin Media Chasing Yield: Bitcoin Is Money, Everything Else Is Credit
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Sep 27, 2025 In this discussion, Liam Nelson, a Bitcoin expert in custody and lending, and Michael Tanguma, a corporate adoption speaker, dive into the complexities of Bitcoin for businesses. They address custody concerns post-conference, emphasizing multi-institution strategies to mitigate risk. The conversation explores Bitcoin’s role as money versus credit, cautioning against unsecured lending practices. They advocate for Bitcoin as a robust savings technology, urging businesses to reassess their yield chase and integrate Bitcoin payments for stability and resilience.
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Custody Concerns Scale With Exposure
- Most organizations remain uncomfortable with single-custodian Bitcoin custody and try to spread assets across many providers.
- Michael Tanguma argues that custody concern scales with exposure and decentralization of keys reduces single-counterparty risk.
Use Multi-Signature To Remove Counterparty Risk
- Diversify custody by decentralizing keys into a multi-signature quorum to remove single-counterparty risk.
- Adopt simpler unified custody experiences to simplify treasury and back-office capital management.
Yield Comes With Hidden Counterparty Risk
- Yield on Bitcoin often requires taking significant counterparty or operational risk that erodes the savings value.
- The panel warns businesses to prioritize treating Bitcoin as a savings technology rather than chasing nominal yield.