Himanshu Sahay, co-founder and CTO of Arch Lending, advocates for Bitcoin holders to borrow against their assets rather than spend them. He argues that Bitcoin should be treated as a reserve asset, akin to gold or real estate, rather than a transactional currency. This perspective is gaining traction, especially as institutional interest in Bitcoin grows. Sahay's firm, which specializes in overcollateralized crypto-backed loans, raised $5 million in 2024 and aims to keep client collateral secure. He draws parallels with private banking strategies, where affluent clients borrow against their assets to avoid triggering taxable events from sales. Citing a projection from VanEck, Sahay notes that Bitcoin could potentially reach $21 million by 2049 if it maintains a 25% compounded annual growth rate. He warns against the opportunity costs of spending Bitcoin, referencing the infamous 2010 Bitcoin Pizza Day, where 10,000 Bitcoins were used for two pizzas, now valued at over $700 million.