Every team member, contractor, investor of @PyrusFinancial & every individual/business that has worked with us will be a customer of ours.
We are making a product for ourselves & our families. We are ensuring every detail, clause, & function of the Bitcoin Equity Loan reflects this commitment.
To clarify @PyrusFinancial is not doing BTC-backed loans!
Ledn / Strike / Arch / Unchained / Coinbase loans: existing BTC holder → posts BTC → gets USD liquidity. Underwritten on collateral. Liquidation-based. Customer is a HODLer who needs cash without selling.
Pyrus's Bitcoin Equity Loan: aspiring or accumulating BTC buyer → has USD income/credit → gets a USD installment loan to acquire BTC → BTC is supplemental collateral with no forced sale. Underwritten on borrower. Default-and-recovery based. Customer is someone who wants to own more BTC and is willing to amortize the cost over 4–7 years.
"I have reason to believe that Bitcoin will reach $250k in 18 months… and eventually I expect the number to be higher as Bitcoin rises and the dollar falls to inflationary pressures." - Tim Draper
Might be a good time to finance some Bitcoin!
;)
I bought Bitcoin at $4. Or so I thought.
Peter Viscenne had offered to mine it for me. He bought some fast mining chips from Butterfly Labs, but rather than delivering them to him, they used them to mine their own bitcoin. Then when Peter finally got the chips, Bitcoin was over $30. So he mined what he could. Then we lost all our Bitcoin to Mt. Gox when they “lost” the money.
Since Bitcoin didn’t drop much on the Mt.Gox news, I did some research.
It turned out that Bitcoin was being used for remitting money, paying unbanked employees, and creating economies where there weren’t any.
So when I heard about the US Marshall’s auction, I bid over market at $632 and bought all nine lots offered.
Got on Fox Business in 2014 and said Bitcoin would hit $10,000 in three years.
The host looked at me like "Why did we have this guy on the show?"
Three years to the day, Bitcoin hit $10,000.
After that, my predictions have not been so prescient, but I have reason to believe that Bitcoin will reach $250k in 18 months… and eventually I expect the number to be higher as Bitcoin rises and the dollar falls to inflationary pressures.
Bitcoiners often forget that cold-storage, or hardware custody is not for everyone. BTC companies who service consumers have a duty to put in tons of work to ensure a secure custody model - not only from a technical standpoint, but from a social one...
Saifedean nails it on non-physical value.
Bitcoin proves the flip side: the most unbreakable digital money is secured by the world's biggest energy-to-compute machine. It is not 'fluff' and 'based on nothing' as so many seemingly intelligent commentators claim.
Value is not a physical thing
To all the people who think bitcoin can’t have value because it’s not tangible...
Tangible assets constitute the following percentage of the Mag7 market caps:
Nvidia: 0.66%
Apple: 1.38%
Tesla: 4.06%
Microsoft: 7.29%
Alphabet: 8.39%
Meta: 9.56%
Amazon: 16.28%
Combined weighted average: 5.79%
If you liquidated all of these companies’ physical assets, they wouldn’t amount to 6% of their valuation. There have been days in which the market caps of these companies have moved by more than the total value of their physical assets.
If 94% of the value of the most valuable companies on earth is non-physical, then value does not have to be physical.
If digital things have no value, then you should have no problem with giving me your computer to erase all the data from it. I will return your computer to you in the same exact physical form. I will just press a few buttons that remove all your data, photos, and contacts, and make it impossible for you to restore them. If value can only be tangible, then all of these digital things have no value, and you shouldn’t mind me deleting them as long as the devices return in their original state. I don’t think you would.
Technology, data, business knowledge, customer base, brands, and so much more are non-physical assets whose value likely exceeds that of all the planet’s physical objects and land. This is something most people understand in their daily lives, but because most people have no understanding of money, they do not understand how it applies to money, too.
Most people think their money is physical, but in reality, most fiat currencies today are 90%+ digital, and usually less than 10% of the supply is physical paper money. There are no stacks of dollars in your bank sitting in a box under your name, available for you to pick up at any time. A tiny fraction of the money is physical, and the rest is digital, manufactured in various quantities by your bank, government, central bank, and other pedophiles, in quantities based on pure vibes. People still give this non-physical fiat money value because it is the only money they can use with a bank account, since governments only license banks that use their local fiat shitcoin. There is no need for the money to be physical to work; digital fiat money works as well as physical fiat money; or as badly.
Bitcoin is an entirely digital money, but it is given value for far more intelligent and peaceful reasons than fiat money. You can read more about that in my books The Bitcoin Standard and The Fiat Standard, which you can buy from Amazon or https://t.co/Va3iL87Ups.
A common objection to bitcoin’s value is: “But if people stop believing in the value of bitcoin it can lose all value.” But that is true of everything. If people stop believing in the value of gold, it would lose value and just become another worthless rock. If people stop believing in the value of electronic devices then Apple and Nvidia go to zero. If people stop believing in the value of Manhattan, then all Manhattan real estate goes to zero. If people discover that tomatoes are poisonous, they stop believing in the value of tomatoes, and the entire planet’s tomato industry goes to zero. Just because something is physical does not guarantee its value, as we can see from the infinite amount of sand and rocks on our Earth left completely untouched by human hands. Physical things can be valueless and non-physical things can have value. Value and physicality are two independent things that are orthogonal to each other. You are doing yourself a disservice if you are unable to benefit from the world’s most advanced money and best saving technology because you are unable to see that value can be non-physical in this one instance, when you have no problem seeing it elsewhere.
Don't finance a car or home, finance a Bitcoin... or a few ;)
We @pyrusfinancial spent the last few weeks @fdotinc releasing early access and building our infrastructure to offer you the ability to buy 1 bitcoin for $1,400/mo.
Excited to share more in the coming weeks!
As @shahh said:
"You can take out a $67,000 loan right now at 7.5% & buy 1 BTC.
In 10 yrs, you'll owe $102,000.
Bitcoin's price in 10 yrs? Easily $500k-$1M.
That's 5-10x profit for FREE.
Worst case, BTC is $100k, & you break even.
Literally free money."
We're building this
Deposit $1.5-2M of BTC to get a $1M house..?!?!
How is that better than the traditional fiat system that requires $100k down..?
It's NOT...
Bitcoiners deserve product flexibility and no liquidations.
Instead deposit 1.5-2x the DOWN Payment in BTC and enjoy NO liquidations...