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What you should know about the debate around Bitcoin-backed bank loans
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A few years from now, could your next loan be backed by Bitcoin? A mind-blowing concept isn’t it? And, that’s exactly what investment expert Anthony Pompliano and Schiff Gold Chairman Peter Schiff sat down to debate during an episode of Pompliano’s business show.
Could Bitcoin help you buy your new home? As Schiff noted, volatility would be a concern for many. However, Pompliano discussed two main aspects that could make this possible – The divisibility of Bitcoin into satoshis and a liquid market.
Using a hypothetical example, the exec said,
“I can sell a piece of the Bitcoin into the market…I could sell $1,000 at time if I wanted, and I can make sure that I will never lose money on the loan. Because I can always liquidate the
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