Is your cross-chain bitcoin secure? What does “wrapping” bitcoin even mean anyway?

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Matt Luongo from Thesis helps us “wrap” our heads around what it means to take your bitcoin cross-chain. What are the trust assumptions? What are the differences between different wrapped Bitcoin products? Is there any “funny business” going on? 

Notes:

• New users are coming to ETFs

• Microstrategy vs cross-chain Bitcoin

• TVL mirroring

• BitGo’s Wrapped Bitcoin vs other wrapped Bitcoin

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Chapters:

00:00 Introduction

02:03 What is Wrapped Bitcoin

05:12 Bitcoin Layers and Bridging

10:30 Trust Assumptions in Wrapped Bitcoin

14:14 Proof of Reserves vs. Solvency

19:02 The Scale of Wrapped Bitcoin

25:12 Soft Forks and Bitcoin’s Future

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