New Bitcoin Line of Credit (Patreon)

Remember NEVER BORROW TO SPECULATE

This looks like a revolving line of credit (like a credit card limit) secured by your Bitcoin holdings. You'd deposit BTC as collateral, and in real-time, Strike would extend you credit to make payments—such as bills, Lightning Network transactions (instant Bitcoin micropayments), or other fiat-based spending.

Why is it appealing to Bitcoiners?

In today's world, most spending requires fiat currency (USD, etc.), so Bitcoiners often face a dilemma: sell BTC (and potentially miss gains) or hold fiat (which loses value to inflation). This lets you keep your BTC intact while borrowing fiat "paper" for real-life needs. It's positioned as "HODL Bitcoin, borrow fiat for payments."

Rates are tiered and range from about 9% to 13% APR (annual percentage rate), depending on factors like loan size, collateral ratio, term length, and user loyalty. Interest rate on the high end at 13% is high but there are no origination fees and no cancellation or early payment fees.

h.t Sanjay