Owning bitcoin is the new status symbol
It's not about the amount or how much you paid for it - it's owning a pristine scadce asset that nobody can create more .jpg
Imagine refinancing your house to accumulate more bitcoin instead of paying off your illusionary fiat mortgage.
That's the real flex 💪
Fixed it.
Or… paying off your mortgage and having that extra income to buy more bitcoin instead of giving more money and endless interest to the banks.
Except that the amount of bitcoin you get for your dollers goes down 40% per year on average. Alternatively, your interest on the lump of funds you used to ape in at today’s price is only 6% or so per year. The ULTIMATE buy now pay later. I’d take the mortgage and the bitcoin all today if I could.
This is true,
A very risk vs. reward scenario
It doesn't seem like a risk at all to me
You either:
A) outperform the 6% interest rate with an annual average 60% and your family thanks you for 1000 years
B) watch bitcoin go to zero and have to be a debt slave for a few extra years
If B, that means we have failed miserably and nothing else really matters at that point
Big picture it's literally risk-free
Not many people these days can add more to their monthly bills, and the return is not guarenteed especially every year to be able to help you pay that extra mortgage you took. Although I’m super bullish on bitcoin, it many are even in a position to do this, let alone have the balls to do it.
You don't necessarily have a higher monthly payment - depending on how it's structured.
The bank could just add 10 more years to the mortgage term
I would 100% do this and currently exploring options
Yeah I guess that’s possible as well, I recommend not telling the bank you are using the money to buy bitcoin because you will definitely be denied lol 😂
Let’s just say the risks on this structure are within my tolerances.
* Dollers is hillbilly for Dollars.
