In #bitcoin, outside of cold storage = leverage.

Ok except that’s just not true, you’re thinking of counter party risk. Cash, custodial wallets, or ETFs are not leveraged.

Even 2x would’ve gotten rekt

Not necessarily true, depends on how it was acquired. If I had 50k in Bitcoin and 50k in USD debt to buy more Bitcoin, I’m negative net worth but I’m not liquidated. I cannot believe how many people sign up for products where there is real time liquidation risk. And honestly @jack mallers why can Strike not create a product where this isn’t the case? If you believe in Bitcoin so much, why are you not willing to take a little risk on being under-collateralized on the loans for a few months if it means people are able to retain their capital? Bitcoin is going up after all…