What is a more effective strategy?
To borrow against your Bitcoin to pay off debt like personal loans and credit cards so you free up cash to buy more Bitcoin in the future once your Bitcoin loan has been paid back?
Or…
Earn more fiat through work and use the extra capital to pay off debt? Your current Bitcoin purchasing strategy remains the same while you do this.
#asknostr #bitcoin #btc #debt #creditcards
As long as accumulating more bitcoin is the end result , policy is good 👍, HOWEVER whenever leveraging , borrowing against bitcoin, maintaining equity levels is paramount during corrections.
So maybe until bitcoin becomes strategic reserve (major corrections will be minimised) the FIAT option may be better.
I hadn’t thought of it like this. Good share!
I also didn't have personal loans or credit card debts. We all have different circumstances that's why I don't shame those who haven't or perceive themselves unable to get into Bitcoin.
This is why I didn't do a single thing with Milo. You really should have double what you think you do in these lending scenarios. No different than leverage, just a much smaller squeeze.
