Thinking about living off Strike's Bitcoin backed loans
I am retired off my modest stack.. and I hate selling at these prices. The math all seems to math out that as long as a Bitcoin does even a meager 5X in 10 years, living off a perpetual loan would be worth it.
When Strike first introduced loans, I sent feedback that the 70K minimum was too high. Strike listened. At 10K, It's a very reasonable chunk.
I've already bet my life on Bitcoin long ago. And I'm very comfortable with that risk now.
I do fear getting liquidated but I can over collateralize.
I could start living a more comfortable life today. And if Bitcoin does take off... I'll be saving a lot of Bitcoin in the long run.
Currently I'm about as sovereign as it gets. Collateralizing my Bitcoin and opening debt is a scary step. But when I think of it as a bet against fiat, it seems like a solid move.
If they're not made for people like me, then who are they for really? I can't imagine a better candidate than myself. Or a company that I would trust to manage this as much as Strike.
Can anyone tell me why I shouldn't?