Take a loan from credit line to buy bitcoin.

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Investing

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Please someone make me see why this is a bad idea, what am I missing? I know this is all based on speculation and no one knows the future for sure:

I am thinking of using my 15k line of credit to buy bitcoin when (if) the bitcoin etf from blackrock gets approved. Bitcoin would surely go up if it gets approved. My line of credit interest is 4.04% prime.

Bitcoin would easily go up more than that.

Then I could sell it within a month (at the very least after it went up 5%, which in bitcoin world is very often), and repay my loan, having made a smallish profit.

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vonamster

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Posted: 1 year ago
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