A 401k loan to tackle debt and buy a house makes alot more sense than selling bitcoin doesn't it?
Discussion
Taking loans against your BTC will be a great option
Lost 3 btc to celsius doing that
In the future folks will lose way more during loan rug pulls…
Doesn’t mean more reputable institutions aren’t coming to do offer this, legitimately
True and to be fair i only had that much because I was using the loans to buy more bitcoin to no end
I have a friend no longer with us for a much larger rug pull that lead to him exiting this world.. I get it, but staying humble and not getting over leveraged is a vital component of this… because everyone was doing it
A few thoughts I’ve developed regarding taking loans out against a bitcoin stack:
(1) only to acquire proven, cash flowing assets / companies
(2) only assets / companies you’ll have complete governance control over - do what you want with them when you want to do it
(3) only acquire near the bottom of the bitcoin bear cycle
Yes
For tax purposes yes it makes sense, if you have big bitcoin gains and IF you are confident in your fiat cash flow to pay back the loan.