Michael Anderson mined bitcoin in his dorm room and left a company job to put money into cryptocurrency tasks. When he purchased his first residence in San Francisco this 12 months, he didn’t flip to a financial institution. As an alternative, he borrowed in opposition to his cryptocurrency.
Crypto fanatics similar to Mr. Anderson are tapping their holdings to purchase properties, automobiles and, typically, extra crypto. They’re getting these loans from upstart nonbank lenders and automatic, blockchain-based platforms.