Borrowing against your BTC

I'm not sure if you guys follow British Hodl on YouTube or X, but he made an excellent point recently. Blackrock is coming for our bitcoin. They will have no problem buying it from you for a million a coin. But you can't sell it. If you own a house, you don't sell it to generate liquidity, you take out a loan against it. That said, this industry is too new to securely loan BTC as we've seen with Block-Fi and Celcius. Nobody in this space is trustworthy enough; not Unchained, not Nexo, and not River. However, I believe Blackrock will incentivize us to put our BTC into the ETF. Then borrow at Fed rates. But even borrowing against BTC with its volatile nature, might cause a margin call. The only safe way is at the 200-week moving average, from a company with a LONG track record like Fidelity or Blackrock. My problem is I don't like the idea of giving my keys up or transferring my "hard" BTC to "paper BTC" I really want to hear/read some good thoughts on this. Happy Friday everyone and Hodl strong!!!



Submitted October 20, 2023 at 06:13PM by MeetingBrilliant https://ift.tt/NgIpPo8

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