I don't know if this is true but if people are actually taking out mortgages to buy Bitcoin that is scary.
This allegation is stated in the link below, he doesn't provide proof but he makes the claim that people are mortgaging their home(s) to buy crypto, if so that worries me. Not because I expect the market to fall, or BTC to fail, but because as has been said before "the market can remain irrational longer than you can remain solvent."
-John Maynard Keynes
CNBC:
"We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.
https://www.cnbc.com/2017/12/11/people-are-taking-out-mortgages-to-buy-bitcoin-says-joseph-borg.html
Would you take out a loan to buy crypto? Have you? What do you think about Salt the new crypto that aims to lend fiat value in exchange for crypto holdings? I suspect people are going to borrow and double down on their crypto investments.
If anyone wants my two cents, do not borrow a dime to invest in crypto, margin trading can rip your face off. Do not do it!
