Borrowing against $BTC rather than selling it is the entire point: it turns a holding into collateral without triggering a disposal.
The institutional version lives or dies on one number — the liquidation threshold. That's what separates a survivable drawdown from a forced one.
$USDC is holding its peg at $1.0000 on $3.86B of volume, so the funding side of this looks calm for now.
Would you borrow against your BTC, or is that exactly how people get wiped out? #CircleLaunchesInstitutionalBTCBackedBorrowing $BTC
The institutional version lives or dies on one number — the liquidation threshold. That's what separates a survivable drawdown from a forced one.
$USDC is holding its peg at $1.0000 on $3.86B of volume, so the funding side of this looks calm for now.
Would you borrow against your BTC, or is that exactly how people get wiped out? #CircleLaunchesInstitutionalBTCBackedBorrowing $BTC