Welcome to Navigating Bitcoin’s Noise—the show where we cut through the clutter and bring you the clearest insights on Bitcoin.

I’m your host, Kane McGukin, and today I’m joined by Pierre Rochard, long-time Bitcoiner and builder whose path runs from Wall Street securitization to Kraken, Riot, and now founding the Bitcoin Bond Company. In this episode, Pierre breaks down the emerging market for Bitcoin-backed notes. We discuss how private credit and declining volatility set the stage for a true Bitcoin yield curve, and what ETFs, custody choices, and KYC/AML realities mean for adoption.

We also dig into stablecoins like Tether and their role in dollarization abroad and how that liquidity ultimately strengthens Bitcoin’s financial plumbing.


Pierre Rochard: https://x.com/BitcoinPierre
Nakamoto Institute: https://nakamotoinstitute.org/

Kane McGukin: https://kanemcgukin.substack.com/ and https://x.com/kanemcgukin