#asknostr Half full or half empty?

#asknostr I've signed up for a Figure bitcoin backed loan. I like the idea of a 50% ltv. I dont mind paying 1% origination, 12% APY for 12 mos with no payments required. My plan is to use the loan proceeds to buy more bitcoin. So worst case, I guess, I'd lose my collateral either cause Figure goes bust or btc falls below margin and i get liquidated. But id gain 50% of the original value via bitcoin buy. I could always pledge more collateral to avoid liquidation. I LIKE the idea of borrowing at 12% to buy an asset that has a 25-50% CAGR. Thoughts?

It's free to study btc. View quoted note →

How is your sunday going? This was a week full of biking and hunting for lobster 🦞. They have been hard to come by. The miles stack themselves. #asknostr #bikestr