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Loans backed up with BTC started to appear?

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Crypto backed loans

I guess this is what Michael Sailor speaks about right?

So you take a loan, live with the money, next year you take a bigger loan expecting your stash grows in value and then you pay the first loan with half the second loan and keep living that way.

Is this new? or are there other services like this in other countries?

submitted by /u/Styrwirld
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