I see the big sell off but I suspect it will be at fiat levels much higher than this. Meanwhile they accumulate more paper Bitcoin.

It's a fiat bet using dirty fiat debt & it's brought up all sorts of emotions I haven't felt in a long while.

I used a Swiss bank to obtain a line of credit in euro at 7% pa. It required an LTV of 0.4 & a shitload of invasive questions about my net worth & professional background. I won't name them here because I've been pretty frustrated by the whole experience (it took about 2 months to get set up). I do like the interest rate & that it's a perpetual line of credit (lombard loan with no end date).