#1499 Micheal Cagney | Insane New Way To Get More Bitcoin

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Mar 7, 2025

Micheal Cagney, co-founder and CEO of Figure Technologies and former SoFi leader, shares groundbreaking insights from Bitcoin Investor Week. He explores the revolutionary concept of using Bitcoin as collateral for home equity loans, emphasizing its benefits and popularity. Cagney discusses the innovative YLDS stablecoin aimed at improving cryptocurrency adoption in finance and examines how blockchain and automation are reshaping lending and asset trading. This conversation reveals the exciting future of finance through the lens of cryptocurrency.

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ANECDOTE

Bitcoin HELOC Origin

Michael Cagney noticed people used HELOCs to buy Bitcoin.
He then created a Bitcoin-backed HELOC, reducing risk and increasing loan amounts.

INSIGHT

Bitcoin HELOC Mechanics

In a Bitcoin HELOC, the borrower owns the Bitcoin and benefits from price increases.
If Bitcoin drops 50%, the position is liquidated, and the loan reverts to a traditional HELOC.

INSIGHT

Bitcoin as Pristine Collateral

Bitcoin is pristine collateral due to its 24/7 trading, divisibility, and digital perfection on the blockchain.
Michael Cagney's lending against Bitcoin has a zero-loss history compared to traditional HELOCs.

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Michael Cagney is the co-founder and CEO of Figure Technologies, a member of the founding team of Provenance Blockchain and the co-founder and former CEO of SoFi. This conversation was recorded at Bitcoin Investor Week in New York. In this conversation we talk about using bitcoin as collateral for a home, why bitcoin is pristine collateral, stablecoins, blockchain RWA thesis, institutional adoption, KPIs to measure success, and what the future looks like.

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