Haseeb Qureshi on Bitcoin
From Haseeb Qureshi: Hyperliquid, Lighter, And The Explosion Of Perps (What's Next) · · The Rollup
“I totally disagree with this. I think this is horseshit. Like I I mean it is not the case that the that the economy has deteriorated by 50% in the last 6 months. Like that's just not a correct reading of reality. Very clearly Bitcoin was drawing down well before the war in Iran began. So you can't really pin Bitcoin in the straight of Hormuse. most of the downturn happened well before that. So, and you know when the Iran conflict started, Bitcoin was actually doing okay for a little bit and actually it kind of started to recover during the Iran conflict. Um, so that just cannot explain what's happening with Bitcoin.”
On , Haseeb Qureshi, Managing Partner at Dragonfly Capital, spoke about Bitcoin during Haseeb Qureshi: Hyperliquid, Lighter, And The Explosion Of Perps (What's Next) on The Rollup.
About Haseeb Qureshi
Haseeb Qureshi, managing partner at Dragonfly Capital, has been a frequent commentator on crypto markets and Ethereum's trajectory. In a series of interviews, he argued that Ethereum remains "the Microsoft of crypto"—large, enterprise-friendly, and irreplaceable—but described recent statements from Vitalik Buterin as "bearish" for ETH, suggesting the Ethereum Foundation may need a "second foundation" focused on growth and adoption. He also expressed skepticism about domestic perpetual futures products, stating that "the idea that perps are going to somehow reinvigorate the market" is "the wrong mental model," and predicted that overseas products would continue to attract users seeking high leverage. Qureshi discussed Dragonfly's $650 million fourth fund and the firm's approach to trading via RFQ desks rather than on-exchange order books. He described stablecoins as the "beating heart of crypto" and noted that the passage of the Genius Act in the US prohibits stablecoins from directly paying yield to holders. He characterized permissionless innovation as a "default yes" regulatory environment, contrasting it with the "default no" approach in traditional finance. Qureshi also participated in a debate about the Canton Network, where he questioned whether its super-validator structure made it truly permissionless.