Bitcoin Bond Company Aims to Acquire $1 Trillion in Bitcoin Over 21 Years

Pierre Rochard, a prominent figure in the Bitcoin community, discovered Bitcoin in 2012 while studying at UT Austin. His interests in Austrian economics and open-source software led him to become captivated by Bitcoin, which he saw as the intersection of these fields. Rochard quickly became an early thought leader in the Bitcoin space, co-founding the Satoshi Nakamoto Institute to house foundational writings and cypherpunk philosophy.

Throughout his career, Rochard has held various roles at prominent companies in the Bitcoin industry, including BitPay, Kraken, and most recently Riot Platforms. His work has spanned Bitcoin infrastructure and advocacy, with a particular focus on addressing environmental criticisms of Bitcoin mining. At Riot, he led responses to these criticisms, including a viral parody video that reframed the debate around mining and value creation, putting the critics on the defensive.

Rochard's current venture, The Bitcoin Bond Company, aims to unlock Bitcoin for fixed-income investors. Unlike Michael Saylor’s long-only strategy, Rochard wants to build "bankruptcy-remote, bitcoin-only structures" with clear life-cycles and risk-tranching. The goal is to make Bitcoin more palatable to traditional credit allocators and to acquire $1 trillion in Bitcoin over the next 21 years, market conditions permitting.

Rochard believes that the four-year halving model is losing relevance for price prediction purposes. He notes that Bitcoin’s compound annual growth rate (CAGR) is now tied to interest rates, and higher Federal Reserve rates pull capital out of Bitcoin, slowing adoption. Despite this, Rochard remains optimistic about the future of Bitcoin-backed credit products, which he believes are inevitable.

At Consensus 2025, Rochard will focus on accelerating the education of institutions looking to diversify beyond real estate and equities. He acknowledges that the biggest challenge in Bitcoin adoption is education, as most investors are unfamiliar with fixed-income products backed purely by Bitcoin. Rochard emphasizes that Bitcoin is no longer a fringe experiment but a core monetary technology that the credit markets need to catch up with.

When asked about concerns like low transaction fees or empty blocks in 2025, Rochard pushed back, noting that the system is designed to be anti-fragile. He believes that if there is ever an attack or censorship, fees will skyrocket, and miners will spin up to address the issue. Rochard's pitch is simple: Bitcoin is a core monetary technology, and it's time for the credit markets to recognize its value.