I want to buy a $275,000 USD Condo (in Texas) with a Bitcoin-backed loan from Blockfi.

I want to buy a $275,000 USD Condo (in Texas) with a Bitcoin-backed loan from Blockfi. I have whatever Bitcoin is necessary to place as collateral.

So I want to know:

Is there any loophole to avoid selling ANY Bitcoin, even to repay the loan if I don’t have any fiat savings or income? I mean I don't want to sell it even in order to make the loan payments.

That is my issue: I don't have/keep any money in fiat/dollars nor earn any income in dollars. So if the loan has to be repaid ONLY in fiat or stablecoin*, then I HAVE TO SELL MY BITCOIN ANYWAY to pay the loan, plus interests.

> *As per Blockfi website, you can ONLY pay your loan with fiat (wire or ACH) and Stablecoins (USDC, GUSD or PAX).

So, I guess this is my question:

Is there any Bitcoin-backed loan that can be REPAID WITH BITCOIN? So we never have to sell ANY of it?

This way we could pay for everything with Bitcoin, indirectly with this 'loophole', without the need to ever sell it, so we actually don't owe any capital gain taxes to the IRS.

Any thoughts or advice would be very much appreciated.

submitted by /u/simplelifestyle
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