Daniel Holbrook

Founder, bitHedge Fund I | Bitcoin upside; return of capital backstopped by US commercial real estate | CRE operator, bitcoiner | 506(c) | Not investment advice

[Daniel Holbrook @DanielBitHedge]

Most investors want bitcoin upside but can't stomach the drawdowns. Most owners of commercial real estate have equity sitting idle and no way to put it to work without selling or refinancing.

We built a fund where each one solves the other's problem.

How bitHedge Fund I works:

[Daniel Holbrook @DanielBitHedge]

RE operators: adopt Bitcoin integration early.

[StripMallGuy @realEstateTrent]

Who makes real money in commercial real estate:

Rates falling: Everyone

Rates flat: The top 5% of operators 

Rates rising: The top 1% of operators

[Daniel Holbrook @DanielBitHedge]

Every country ran a money experiment.

Mexico: heavy in real estate, light on leverage, thinking in hard currencies.

Boyd Cohen of @Arcadiabtc: one family office went 0% to 10% bitcoin.

@REstandardPod Ep 41 @ChrisDrz @TimKotzman

Full episode: https://t.co/j3NA1zUHRG

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Daniel Holbrook @DanielBitHedge]

Your client asks on Zoom to move their bitcoin. It's an AI.

How do you prove who's real?

Jose Flores of @Arcadiabtc: human networks, built into custody.

@REstandardPod Ep 41 with @ChrisDrz @TimKotzman

Full episode: https://t.co/j3NA1zUHRG

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Daniel Holbrook @DanielBitHedge]

Most bitcoin conversations leave out the people who own the buildings.

Wed 11/18, 9:30 AM MT: I ask 30-year CRE owner David Marulli what would make him consider a bitcoin-linked strategy, and what would make him walk away.

https://t.co/2C4MIcHxku

[Daniel Holbrook @DanielBitHedge]

agree with similarities.

Imagine kids in the future being like "I started building and researching and learning in AI when I was 9" and they are the OG's, wielding huge AI currency because they were early adopters.

[Jackson @macrojack21]

everyone wishes they were early to bitcoin

AI is following the same curve

most people still use it as an advanced google search. the people using it every day are pulling further ahead every month

the difference: early to bitcoin, you own more of it. early to AI, you become more capable

you can't control bitcoin's price. you can control your output

[Daniel Holbrook @DanielBitHedge]

@nickisanders @bitHedgefund basel is a go

[Daniel Holbrook @DanielBitHedge]

Not a loan. No debt service.

bitHedge is for unencumbered CRE owners who want bitcoin upside and to keep the building. If the Fund ends below what investors put in, the owner covers the shortfall, capped at the pledge.

@REstandardPod Ep 41 with @ChrisDrz @TimKotzman

Full episode: https://t.co/Y4wf4ezmmk

The Fund relies on Rule 506(c) of Regulation D. No investment may be accepted unless the prospective purchaser receives and reviews the final offering documents, is verified as an accredited investor, completes the subscription process, and is accepted by the General Partner. The offering documents contain material information and risk factors not included in this material and control in the event of any inconsistency.

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Daniel Holbrook @DanielBitHedge]

Day 2 of Fund Launch LIVE from @fundlaunch_ai, on the big screen at Kiln in Salt Lake City today.

11am to 2:30pm MT. A room of people building funds in Utah: credit, real estate and Bitcoin managers.

Seats are limited: https://t.co/r5J8ktDmfE

[Daniel Holbrook @DanielBitHedge]

"I'm too rich to do my own custody."

Jose Flores of @Arcadiabtc used to preach self-custody. Now he says multi-institution multisig is where custody is going.

Self-custody or a custodian?

@REstandardPod Ep 41 with @ChrisDrz @TimKotzman

Full episode: https://t.co/j3NA1zUHRG

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Boyd Cohen @boydcohen]

This is bigger than most people think. One of the most important cities in the country has just treated Bitcoin as legal tender for such an important revenue source, property taxes. Now the most important question IYAM is are they able to avoid the property owner from incurring capital gains on the BTC they use?

If so, there is a legit reason a Bitcoiner (and Miami has a lot of them) would let go of their precious BTC for this. If not, Gresham's law is in effect and they won't get much adoption.

[Daniel Holbrook @DanielBitHedge]

2-of-3 multisig, every signer an institution with its own multisig.

9+ signatories. Multiple continents. Hack two institutions, not one key.

Boyd Cohen and Jose Flores of @Arcadiabtc on @REstandardPod Ep 41 with @ChrisDrz @TimKotzman

Full episode: https://t.co/j3NA1zUHRG

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Daniel Holbrook @DanielBitHedge]

Most fund builders watch @fundlaunch_ai LIVE alone. Tomorrow SLC watches Day 2 together. 🎥

Seats still open 👇

[Daniel Holbrook @DanielBitHedge]

Tomorrow in Salt Lake City: Day 2 of Fund Launch LIVE from @fundlaunch_ai on the big screen at Kiln at The Gateway, 11:00am to 2:30pm MT.

If you're building a fund in Utah, come trade notes with people doing the same. Seats are limited and I approve every RSVP.

RSVP: https://t.co/EmtkLl1Hbe

[Daniel Holbrook @DanielBitHedge]

Tomorrow in Salt Lake City: Day 2 of Fund Launch LIVE from @fundlaunch_ai on the big screen at Kiln at The Gateway, 11:00am to 2:30pm MT.

If you're building a fund in Utah, come trade notes with people doing the same. Seats are limited and I approve every RSVP.

RSVP: https://t.co/EmtkLl1Hbe

[Daniel Holbrook @DanielBitHedge]

Coinbase custodies 9 of the 11 US spot bitcoin ETFs.

@ChrisDrz: that's the real black swan.

Do you know who holds the coins behind yours?

@REstandardPod Ep 41 with @TimKotzman and Boyd Cohen of @arcadiabtc

Full episode: https://t.co/j3NA1zUHRG

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Daniel Holbrook @DanielBitHedge]

Jose Flores of @Arcadiabtc: in Mexico, borrowing costs 10% if you're very well positioned. Usually 15. Sometimes 20.

Rents: about 5%.

So owners buy real estate outright.

@REstandardPod Ep 41 with @ChrisDrz @TimKotzman

Full episode: https://t.co/j3NA1zUHRG

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Daniel Holbrook @DanielBitHedge]

The best part of any fund conference is who you meet between sessions.

Wednesday in Salt Lake City: Day 2 of Fund Launch LIVE from @fundlaunch_ai on the big screen at Kiln at The Gateway, 11am to 2:30pm MT.

Curated room. Seats are limited and I approve every RSVP. Building a fund in Utah? Be in this room.

https://t.co/EmtkLl2f0M

[Daniel Holbrook @DanielBitHedge]

$6.3B stolen from Binance.

The Bitcoin network didn't fail. The breach was at the edge.

~$3B, mostly stablecoins, was frozen. The 18,270 BTC couldn't be.

@REstandardPod Ep 41 with @ChrisDrz @TimKotzman @Arcadiabtc

Full episode: https://t.co/j3NA1zVfHe

[The Real Estate Standard @REstandardPod]

The Real Estate Standard Episode 41 https://t.co/CLt6JeA9S9

[Leon Wankum @leonwankum]

Inflation does more than raise prices. It changes human behavior and incentives, distorts investment decisions. Bitcoin could reverse these incentives and reshape how we save and allocate capital. https://t.co/qqYptZuV7f

[Chris Drzyzga, SIOR | Commercial Real Estate @ChrisDrz]

It all makes sense now. Barry needed a bailout!

He was making the media rounds recently screaming for lower rates

[Daniel Holbrook @DanielBitHedge]

The Fund relies on Rule 506(c) of Regulation D. No investment may be accepted unless the prospective purchaser receives and reviews the final offering documents, is verified as an accredited investor, completes the subscription process, and is accepted by the General Partner. The offering documents contain material information and risk factors not included in this material and control in the event of any inconsistency.

[Daniel Holbrook @DanielBitHedge]

Tokenization makes collateral easier to verify, move and monitor.

The bigger question: why should real estate credit only ever mean taking out a loan?

What if you could use the equity in your property to get into an opportunity you want, without taking out a loan or paying debt service?

That's bitHedge. TradFi first. Onchain only as the legal and operational pieces are proven out, step by step.

[Nicki Sanders @nickisanders]

Imagine owning a $1M commercial property and wanting to borrow $300K against it.

Today, that can mean weeks of paperwork, appraisals, title searches, legal agreements, underwriting, and coordinating between lenders, custodians, and registries.

Here's what that process looks like:

TODAY:
1. Find a lender willing to accept the asset as collateral.
2. Submit ownership documents and financial information.
3. Get the asset independently appraised.
4. The lender performs due diligence and underwriting.
5. Lawyers establish the lien or security interest.
6. The collateral is registered, pledged, or placed under the lender's control.
7. Once everything clears, the loan is funded.
8. Throughout the loan, the lender monitors the collateral and may require updated valuations.

Now let's imagine that property is represented by a legally enforceable token.

WITH TOKENIZED RWAs:
1. The asset is tokenized, with ownership and legal rights linked to the underlying property.
2. The token is held in a compatible custody solution or pledged to a lending protocol.
3. Verified asset data and valuation feeds inform the lender's collateral assessment.
4. The lender determines the loan-to-value ratio and approves the terms.
5. A smart contract can lock or restrict transfer of the collateral token.
6. Loan proceeds can be disbursed digitally, potentially in stablecoins.
7. The loan, collateral position, and repayment status can be monitored onchain.
8. Once repaid, the collateral is released. If the borrower defaults, enforcement follows the agreed legal and contractual process.

The biggest shift here? Collateral becomes easier to verify, transfer, monitor, and potentially use across lending markets.

An asset that might have been sitting idle in a traditional ownership structure could become productive capital.

This applies to far more than real estate: private credit, treasuries, funds, commodities, infrastructure, and other assets with verifiable ownership and enforceable rights.

Tokenization isn't just simply about putting assets onchain for no reason, it's about making those assets usable across financial markets.

The next evolution of RWAs is credit.