隨著市場信心的增長，比特幣持有人越來越舒適地借用加密貨幣

根據直布羅陀私人銀行Xapo Bank的首席執行官Seamus Rocca的說法。

The CEO of Gibraltar-based private bank Xapo Bank says that Bitcoin (BTC) is seeing an "obvious" next step with the emergence of lending products.

總部位於直布羅陀的私人銀行Xapo Bank的首席執行官表示，比特幣（BTC）看到了借貸產品的出現“明顯”的下一步。

In an interview at the Token2049 event in Dubai, Seamus Rocca told Cointelegraph that with Bitcoin hovering around $95,000 and showing signs of institutional adoption, the mood among investors has shifted from short-term speculation to a more long-term outlook. This makes them more comfortable borrowing against their crypto.

Seamus Rocca在迪拜的Token2049活動的一次採訪中告訴Cointelegraph，隨著比特幣徘徊在95,000美元左右，顯示出機構採用的跡象，投資者的情緒已從短期猜測轉變為更長期的前景。這使他們更自在地藉著加密貨幣。

On March 18, Xapo Bank launched a lending product that allows users to borrow US dollars using their Bitcoin as collateral. With the product, qualified clients can access up to $1 million in loans while keeping their BTC.

3月18日，Xapo Bank推出了一種貸款產品，該產品允許用戶使用其比特幣作為抵押品借入美元。使用該產品，合格的客戶可以在保留BTC的同時獲得多達100萬美元的貸款。

Bitcoin-backed loans are an “obvious” next step

比特幣支持的貸款是下一步的“明顯”

Rocca said that growing confidence in crypto’s long-term trajectory had fueled demand for the product. This has been driven by developments leading to broader institutional adoption.

羅卡說，對加密貨幣的長期軌蹟的信心越來越多，加劇了對產品的需求。這是由導致更廣泛的機構採用的發展所驅動的。

“Expectations are for institutional space coming in, the ETFs, and the mood music on Bitcoin is much more about wider adoption and long-term thinking than very short-term speculation,” Rocca said.

Rocca說：“對機構空間的期望，ETF和比特幣上的情緒音樂更多地是關於更廣泛的採用和長期思維，而不是非常短期的猜測。”

He said this shift is the key to unlocking demand for borrowing against BTC, as investors feel more secure and feel that sharp price drops are less likely to happen.

他說，這種轉變是釋放對BTC借貸需求的關鍵，因為投資者感到更加安全，並且覺得價格下降的可能性較小。

The Xapo Bank CEO said that its Bitcoin-backed loans offer loan-to-value (LTV) ratios of 20%, 30% and 40%, giving borrowers flexibility while managing risk. “If you get a 20% LTV loan and you have 100 Bitcoin, as a lot of early adopters do, that’s still a couple of million dollars you can borrow without having to sell them,” Rocca said.

Xapo銀行首席執行官表示，其比特幣支持的貸款提供20％，30％和40％的貸款對價值（LTV）比率，使借款人在管理風險的同時具有靈活性。 Rocca說：“如果您獲得20％的LTV貸款，並且像許多早期採用者一樣擁有100個比特幣，那麼您仍然可以藉用幾百萬美元，而無需出售它們。”

With conservative LTV levels like 20%, Bitcoin must fall below $40,000 for borrowers to get liquidated. “We’re nowhere near $40,000,” Rocca told Cointelegraph, pointing to the current price stability as a reason for growing borrower confidence.

保守的LTV水平（例如20％），比特幣必須低於40,000美元，才能清算借款人。羅卡對Cointelegraph表示：“我們幾乎沒有40,000美元。

Related: Blockchains ready for institutions, lawyers hesitate: DoubleZero CEO

相關：準備機構的區塊鏈，律師猶豫：DoubleZero首席執行官

Borrowing helps investors avoid selling in emergencies

借貸可以幫助投資者避免在緊急情況下出售

Rocca said Bitcoin-backed loans provide a solution for holders who want to stay exposed to BTC when facing life’s unexpected expenses. “If you follow the ethos of investing, the smart thing to do would be not to sell it in three days if it goes to $100,000,” Rocca said.

Rocca說，由比特幣支持的貸款為希望在面對生活意外支出時保持接觸BTC的持有人提供了解決方案。羅卡說：“如果您遵循投資的精神，那麼聰明的事情將在三天內不出售100,000美元。”

“But life gets in the way,” Rocca added. He told Cointelegraph that unexpected costs, like medical bills or replacing a car, often force investors to liquidate assets at unfavorable times. Rocca said that instead of selling Bitcoin for a $10,000 expense, investors could borrow against their holdings while simply paying interest on the loan.

羅卡補充說：“但是生活妨礙了。”他告訴Cointelegraph，意外的費用，例如醫療費用或更換汽車，通常會迫使投資者在不利時期清算資產。 Rocca說，投資者可以在貸款上僅支付利息的同時，而不是以10,000美元的費用出售比特幣，而是可以藉貸。

“You continue to have the upside potential of the price appreciation of the Bitcoin because you haven’t sold it,” he said. “But you get liquidity to pay for things that you need in everyday life.”

他說：“您繼續對比特幣的價格欣賞的上漲潛力，因為您還沒有出售它。” “但是您將獲得流動性，以支付日常生活中所需的東西。”

As institutional adoption deepens and the Bitcoin market matures, the Xapo Bank executive is betting that more long-term holders will be ready to tap into crypto liquidity without selling their BTC. This marks a shift from the “hodl” culture to an age where Bitcoin owners can do more with the asset.

隨著機構採用的加劇和比特幣市場的成熟，Xapo銀行高管押注，更多的長期持有人將準備好在不出售BTC的情況下利用加密流動性。這標誌著從“ hodl”文化轉變為比特幣所有者可以通過資產做更多的時代。