Pierre Rochard, who calls himself a “bitcoin maximalist OG,” first found Bitcoin in 2012 whereas finding out at UT Austin. With pursuits in Austrian economics and open-source software program, he was “captivated” by bitcoin because the intersection of each. He turned an early thought chief, co-founding the Satoshi Nakamoto Institute to deal with foundational writings and cypherpunk philosophy.
Throughout roles at BitPay, Kraken, and most lately Riot Platforms (RIOT), his work has spanned bitcoin infrastructure and advocacy. At Riot, he led responses to environmental criticisms, together with a viral parody video that “put the critics on the defensive” and reframed the talk round mining and worth creation.
Pierre Rochard is a speaker at Consensus 2025, in Toronto, Might 14-16. Get your go right here.
“Critics assume mining is wasteful as a result of they don’t imagine bitcoin has worth,” Rochard stated. “However it’s about financial sovereignty — the flexibility to manage your individual cash.”
Now, with The Bitcoin Bond Firm, he takes on the following frontier: unlocking bitcoin for fixed-income buyers.
In contrast to Michael Saylor’s long-only technique, Rochard desires to construct “bankruptcy-remote, bitcoin-only buildings” with clear life-cycles and risk-tranching. The thought is to make Bitcoin extra palatable to conventional credit score allocators.
His objective? Purchase $1 trillion in bitcoin over the following 21 years — market circumstances allowing.
On the value cycle, Rochard believes the four-year halving mannequin is dropping relevance for value prediction functions. “Bitcoin’s CAGR is now tied to rates of interest,” he stated, noting its shift towards changing into a worldwide macro asset. “Increased Fed charges pull capital out of Bitcoin — that’s what slows adoption.”
Whereas training stays a significant hurdle, he’s optimistic. “Ten years in the past, this concept was laughed off. At this time, Bitcoin-backed credit score merchandise are inevitable.”
At Consensus 2025, Pierre is concentrated on accelerating that training, particularly amongst establishments trying to diversify past actual property and equities.
Rochard was additionally clear-eyed concerning the dangers and hurdles in bitcoin adoption. “The largest problem is training,” he emphasised. “Most buyers have by no means seen a fixed-income product backed purely by bitcoin. They’re used to actual property or company debt — this can be a new asset class for them.”
When requested about issues like low transaction charges or empty blocks in 2025, Rochard pushed again. “Folks fear about low charges, however that assumes a static system. If there’s ever an assault or censorship, charges skyrocket — and miners spin up. It’s anti-fragile by design.”
Finally, Rochard’s pitch is straightforward: “Bitcoin is not a fringe experiment. It’s a core financial expertise — and it’s time the credit score markets caught up.”
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