According to reports, a number of investors looking to cash in on the soaring prices have resorted to putting their houses up as collateral to fund the venture.
How much would you put at risk to invest in the hottest digital currency in the world? For some people, the skyrocketing value of Bitcoin is worth putting their own homes at stake.
According to reports, a number of investors looking to cash in on the soaring prices have resorted to putting their houses up as collateral to fund the venture.
“We’ve seen mortgages being taken out to buy bitcoin. People do credit cards, equity lines,” Joseph Borg of North American Securities Administrators Association said, via Business Insider.
The president of the securities firm added that he believes the risks outweigh the rewards tied to the popular cryptocurrency. “This is not something a guy who’s making $100,000 a year, who’s got a mortgage and two kids in college ought to be invested in.”
Source/More: People Mortgaging Their Homes To Buy Bitcoin, Report Says « CBS Dallas / Fort Worth
