Before discovering Bitcoin (BTC), Ledn co-founder Mauricio di Bartolomeo found success shorting the Venezuelan Bolivar as it rapidly lost value against the stronger US dollar. Now, with the US dollar depreciating against Bitcoin, borrowing against Bitcoin instead of selling it has become a more viable strategy.
“Prior to Bitcoin, my most successful investment was shorting the Bolivar with dollars,” di Bartolomeo told Cointelegraph in an exclusive interview at the Consensus conference in Toronto, Canada.
“I was borrowing Bolivars and buying dollars with them, holding the hard dollars and having a borrow [position] on the weaker currency,” he said.
The arrival of Bitcoin-backed loans means investors can now effectively implement the same strategy by using a harder currency as collateral.
Ledn co-founder Mauricio di Bartolomeo, right, and Cointelegraph’s Sam Bourgi at Consensus. Source: Cointelegraph
This was part of the motivation behind launching Ledn, a Cayman Islands-based company that gives Bitcoin