Part 4
Corporate Bitcoin Treasury Strategies
Chapter 11
The Speculative Attack: The Case for Leveraged Bitcoin Exposure
Pierre Rochard's 2014 essay argued that rational actors would borrow fiat to acquire bitcoin. These sources revisit it.
Rochard's original thesis
The speculative attack describes a feedback loop: holders of weak money borrow it to buy hard money, accelerating the transition.
Sources in this chapter
Why it's included
A short explainer of Rochard's original essay.
VerifiedRelated commentary
Pierre Rochard's 2014 essay argued that rational actors would borrow fiat to acquire bitcoin. These sources revisit it.
Why it's included
Rochard revisits his thesis ten years on (March 2024).
VerifiedRelated commentary
Pierre Rochard's 2014 essay argued that rational actors would borrow fiat to acquire bitcoin. These sources revisit it.
Why it's included
Frames the attack as a civilizational turning point rather than a trade.
VerifiedRelated commentary
Pierre Rochard's 2014 essay argued that rational actors would borrow fiat to acquire bitcoin. These sources revisit it.
Why it's included
A full audio reading of the original essay.
VerifiedRelated commentary
Pierre Rochard's 2014 essay argued that rational actors would borrow fiat to acquire bitcoin. These sources revisit it.