No Summary provided as the original text is short
- Collateral: An asset pledged to secure a loan, which lenders can claim if the borrower fails to repay.
- Bitcoin-backed loan: A loan secured by Bitcoin rather than sold holdings, allowing borrowers to keep market exposure while accessing liquidity.
- Loan-to-value ratio: A lending metric that compares the loan amount with the value of pledged collateral; higher collateral requirements reduce lender risk.