I should start by 100% saying this is in no way financial advice.
I've just noticed that coinbase is offering loans based on your Bitcoin holdings. I had been meaning to invest more into gme, but was hesitant to remove any of my other investments, due to creating a taxable event. I noticed today, that Coinbase is offering loans against your Bitcoin holdings, which will allow me to withdraw money and pay it back without removing my bitcoin, thus avoiding a taxable event. I understand many people's views on cryptocurrency, but being invested for a while, this past year has helped me realize some relatively large gains. This means that in my personal situation, taking a loan out against it, is not a large measurable risk, and would allow me to, in the short term, invest in other things I believe in with an 8% fee, instead of a 20 to 30% tax. So hold strong apes, because in 3 to 5 days, I will have some reinforcements here.
Once again, I completely understand people's views on coinbase, cryptocurrency, and Bitcoin specifically vary wildly, but I see having a market where you can borrow from your investment as an option, to be a very positive thing in this situation. This avoids me having to dip into my 401k, or my crypto investment.
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