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331 sats \ 0 replies \ @lightcoin 18 Apr 2023 \ parent \ on: Bitcoin Loan VS Bitcoin-backed Loans: Pros & Cons bitcoin
You could borrow BTC or gold if you want, the medium of exchange matters less than the unit of account for denominating the debt.
That's a nice austere lifestyle you live, I'm close to debt free as well. But being able to leverage assets to cover short term unexpected expenses without having to sell those assets, or to multiply wealth through smart investments without having to sell existing assets, are real benefits that lots of people use collateralized debt for.