More Real World Assets Are Coming On Chain: Diamond

Watch on YouTube ↗  |  February 03, 2026 at 18:55  |  7:41  |  Bloomberg Markets
Speakers
Bob Diamond — CEO, Atlas Merchant Capital; Chairman, Hyperliquid Strategies; former Barclays CEO

Summary

Bob Diamond, chair of Hyperliquid Strategies, discusses the crypto market environment, contrasting Bitcoin and Ethereum's recent selloff with HYPE's outperformance. He argues Hyperliquid is a revenue-generating layer-1 blockchain whose token has equity-like and buyback characteristics, and he highlights the growing tokenization of real-world assets like equities and metals on Hyperliquid. Diamond also outlines Hyperliquid Strategies' value proposition for US investors, upcoming prediction markets, and his view that blockchain will become core financial infrastructure.

  • Bob Diamond characterizes recent crypto trading as risk-off and deleveraging.
  • Hyperliquid's HYPE token is presented as equity-like, with revenue growth and token buybacks.
  • Real-world assets, including equities, silver, and gold, are trading on Hyperliquid via trade.xyz.
  • Hyperliquid plans to launch prediction markets in coming weeks.
  • Hyperliquid Strategies (PURR) offers US investors exposure to HYPE and Hyperliquid.
  • Diamond says major banks are adopting blockchain and sees it as future financial infrastructure.
  • Bitcoin and Ethereum fell over the past week while HYPE rose, according to Diamond.
Ideas
Bob Diamond CEO, Atlas Merchant Capital; Chairman, Hyperliquid Strategies; former Barclays CEO 0:31
HYPE is equity-like with buybacks.
Hyperliquid is a layer-1 blockchain built for exchanges and is fundamentally different from Bitcoin: HYPE functions more like equity in a business, valued on volumes and earnings rather than pure supply and demand. Hyperliquid's volumes and revenue are growing, with revenue just under $1B last year and only 11 employees. 97% of income is used to buy back HYPE tokens, making it similar to a share buyback, and HYPE has risen 40% while Bitcoin and Ethereum fell.
HYPE HIGH
Bob Diamond CEO, Atlas Merchant Capital; Chairman, Hyperliquid Strategies; former Barclays CEO 1:22
Real-world assets moving on-chain.
Real-world assets are now being traded on-chain through Hyperliquid's HIP-3 and Unit/trade.xyz, including Nasdaq, SpaceX, Tesla, silver, and gold. Silver trading on Hyperliquid reached record volume, with trade.xyz at 2% of that volume, demonstrating real adoption. Diamond calls this a sea change for RWA tokenization.
RWA HIGH
Bob Diamond CEO, Atlas Merchant Capital; Chairman, Hyperliquid Strategies; former Barclays CEO 3:40
Blockchain becoming core financial infrastructure.
Major banks including JPMorgan, Bank of America, Bank of New York, State Street, and Barclays are investing in blockchain and have real use cases. Institutional adoption is real, and over the next 5-10 years blockchain will likely become the most prevalent infrastructure in finance, supporting blockchain infrastructure investments.
BLCN MED
Bob Diamond CEO, Atlas Merchant Capital; Chairman, Hyperliquid Strategies; former Barclays CEO 5:24
PURR offers regulated HYPE access.
Hyperliquid Strategies (PURR) provides US investors, including those not approved for perpetual futures, with access to HYPE and the Hyperliquid ecosystem. Its value is tied to Hyperliquid's growing revenue, expanding volumes, new RWA markets, and USDH token. Hyperliquid uses 97% of income to buy back HYPE, similar to a share buyback, and the company has board authorization to buy back up to $30M of shares when below NAV; Bob disputes it is currently below NAV.
PURR MED
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This Bloomberg Markets video, published February 03, 2026, features Bob Diamond discussing HYPE, RWA, BLCN, PURR. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Bob Diamond  · Tickers: HYPE, RWA, BLCN, PURR