Bitcoin-backed loans ‘obvious’ next step — Xapo Bank CEO
With Bitcoin hovering around $95,000 to $97,000, Xapo Bank CEO Seamus Rocca sees growing investor confidence to borrow using BTC as collateral.
Bitcoin holders are becoming more comfortable borrowing against their crypto as market confidence grows, according to Seamus Rocca, the CEO of the Gibraltar-based private bank Xapo Bank.
In an interview at the Token2049 event in Dubai, Rocca told Cointelegraph that with Bitcoin (BTC) hovering around $95,000 and institutional adoption starting to catch on, the executive said the mood among investors shifted from short-term speculation to a more long-term outlook.
“I’m not sure that confidence would have been there three or four years ago,” Rocca told Cointelegraph. “But today, people are more comfortable to borrow against Bitcoin because we’re nowhere near the levels that would trigger liquidation.”
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