Bitcoin’s (BTC) next evolution isn’t just about price. It’s about potential.
On this week’s episode of The Clear Crypto Podcast, hosts Nathan Jeffay and Gareth Jenkinson sit down with Isabel Foxen Duke, general partner at Unbroken Chain and longtime Bitcoin advocate, to unpack what she calls “Bitcoin Season 2.”
Bitcoin beyond money
“Bitcoin Season 2 is really about seeing what we can do with Bitcoin outside of just being money,” said Duke.
“What are the broad range of financial use cases for [Bitcoin] other than just being money by itself?”
New developments like ordinals, runes, and decentralized financial (DeFi) tools are pushing Bitcoin beyond its traditional identity as a digital store of value.
One key innovation under discussion is trustless lending — allowing users to borrow against their Bitcoin without involving third-party intermediaries. “We don’t have the ability to lend against our Bitcoin in a trustless way without third-party intermediaries,” Duke said.
“I would argue that is the second most important and second most used use case in the real world other than making payments.”
Lending on Bitcoin
One emerging solution involves Discreet Log Contracts (DLCs), which let users maintain control of their Bitcoin while locking it as collateral. Smart contract logic enforces repayment, not a central authority. “That’s proven by math rather than trust,” Duke said.
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Duke said she is equally excited about trustless bridging, which could allow Bitcoin to interact with external computation platforms without compromising its decentralized ethos.
“If you could use Bitcoin not just as money but as a base asset that can trustlessly plug into any financial system, that would be… the end of the road for this asset.”
Looking ahead, Jenkinson highlighted how Bitcoin-native DeFi could unlock real-world financial access for people excluded from traditional banking. “A few little changes to some lines of code might just unlock [permissionless finance] for all of us,” he said. “And that’s the kind of future I’m hopeful about.”
To hear the full conversation on The Clear Crypto Podcast, listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows!
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