U.S.-compliant futures don’t force whales to sell their coins for dollars. That’s the starting point for winning back offshore derivatives capital.
According to Bloomberg, Kalshi Prime, the futures broker owned by prediction market Kalshi, has partnered with custodian BitGo. Clients can borrow against BTC held with BitGo and use it directly as margin for perpetual contracts.
This directly boosts the utility of holding Bitcoin. According to Binance spot data, BTC is currently trading at $83,304. Whales no longer need to sell their spot holdings to use leverage in a compliant market, avoiding tax costs while keeping their positions intact.
Going forward, watch whether Kalshi’s Bitcoin perpetual open interest can surpass $500 million in Q4. Another key question is whether CME will follow suit early next year.
This is purely personal analysis. Please do your own research before investing (DYOR).
$BTC
According to Bloomberg, Kalshi Prime, the futures broker owned by prediction market Kalshi, has partnered with custodian BitGo. Clients can borrow against BTC held with BitGo and use it directly as margin for perpetual contracts.
This directly boosts the utility of holding Bitcoin. According to Binance spot data, BTC is currently trading at $83,304. Whales no longer need to sell their spot holdings to use leverage in a compliant market, avoiding tax costs while keeping their positions intact.
Going forward, watch whether Kalshi’s Bitcoin perpetual open interest can surpass $500 million in Q4. Another key question is whether CME will follow suit early next year.
This is purely personal analysis. Please do your own research before investing (DYOR).
$BTC