I had a cash emergency pop up when the buyer of our condo couldn’t get a clear to close from some third rate mortgage company he decided to use. At the same time, we had a contract on a new home that we were purchasing that was supposed to close after that sale, but now we were in a position where we could either close on the new home without the cash from our condo sale, or lose the home back to the market. We decided to close on the home, but it required borrowing cash against our Bitcoin for 3 weeks, or selling our Bitcoin. We decided on a very low LTV and borrowed via
@npub1ex7m...vyt9 . I will admit, that I didn’t love the scenario, but the ease of the process and the team at Strike were incredible throughout. They even let us close our loan early when the condo sale finally happened. I can’t say enough good things about the Strike loan product. Sadly, sometimes Fiat gets in the way of life. Thanks to
@jack mallers and team for building a tool to bridge the two worlds.
This is not an endorsement of borrowing against your #bitcoin . Frankly, I recommend against it. However, it was the best option for us at the time, and props where props are due for the incredible product and service offered.