Yes, but in an healthy market your 401k would be bitcoin. It would be stupid to use your 1 Bitcoin as collateral so that you can get half a coin and buy cattle with it. Instead you would simply spend your money for the cattle.

Using money as collateral for more money is not something that happens in a healthy market. Spending without spending. It's basically an attempt at double spending by leveraging bad money in circulation.

Your number number might have gone up higher by taking a loan with money to buy money but this isn't what I call productivity.