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In a recent appearance with Bitcoin Katie, Tony shared one of the most consequential ways you can put your Bitcoin at risk: Bitcoin-backed loans.

It sounds appealing at first. Stacks sats, borrow against it, and spend depreciating fiat. But the truth is more insidious.

Bitcoin-backed loans mean you give up control of your keys and are subservient to the whims of the market. A major correction in Bitcoin’s fiat price, such as we’ve seen recently, can mean you get liquidated. And odds are, you won’t ever get the same stack back.

But this is just one of the big risks. Others, such as 6102-style confiscation events, regulatory exposure, data breach risk, loss of cash flow to pay back loans, and even stolen coins are real factors to consider.

The TLDR is simple. For most people, Bitcoin-backed loans are not worth the risk, no matter how enticing they seem on the surface.

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This show is for entertainment purposes only. Before making any financial or legal decisions consult a professional.