Stephan Livera Podcast
SLP30 Bitcoin-backed loans and financial services, with Zac Prince of BlockFi
Oct 29, 2018
Zac Prince, Founder and CEO of BlockFi, talks about the benefits of using Bitcoin as collateral for USD loans, including minimizing capital gains taxes and interest deductions. They also discuss the global accessibility of debt financing and lowering interest rates for Bitcoin-backed loans. Additionally, they explore the use of stablecoins and the possibility of a BlockFi debit card. The podcast highlights the advantages of crypto-backed loans, such as tax benefits and the potential to hold more Bitcoin.
54:16
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Quick takeaways
- Bitcoin-backed loans offer the benefit of minimizing capital gains taxes and getting an interest deduction on funds.
- BlockFi aims to provide a comprehensive suite of financial services in the crypto industry, including credit cards, debit cards, interest-bearing accounts, and more.
Deep dives
The concept of Bitcoin-backed loans
BlockFi offers Bitcoin-backed loans, allowing individuals and companies to borrow USD using Bitcoin as collateral. This concept provides increased accessibility to debt financing in the crypto ecosystem.
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