随着市场信心的增长，比特币持有人越来越舒适地借用加密货币

根据直布罗陀私人银行Xapo Bank的首席执行官Seamus Rocca的说法。

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.

总部位于直布罗陀的私人银行Xapo Bank的首席执行官表示，比特币（BTC）看到了借贷产品的出现“明显”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活动的一次采访中告诉Cointelegraph，随着比特币徘徊在95,000美元左右，显示出机构采用的迹象，投资者的情绪已从短期猜测转变为更长期的前景。这使他们更自在地借着加密货币。

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推出了一种贷款产品，该产品允许用户使用其比特币作为抵押品借入美元。使用该产品，合格的客户可以在保留BTC的同时获得多达100万美元的贷款。

Bitcoin-backed loans are an “obvious” next step

比特币支持的贷款是下一步的“明显”

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.

罗卡说，对加密货币的长期轨迹的信心越来越多，加剧了对产品的需求。这是由导致更广泛的机构采用的发展所驱动的。

“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说：“对机构空间的期望，ETF和比特币上的情绪音乐更多地是关于更广泛的采用和长期思维，而不是非常短期的猜测。”

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.

他说，这种转变是释放对BTC借贷需求的关键，因为投资者感到更加安全，并且觉得价格下降的可能性较小。

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银行首席执行官表示，其比特币支持的贷款提供20％，30％和40％的贷款对价值（LTV）比率，使借款人在管理风险的同时具有灵活性。 Rocca说：“如果您获得20％的LTV贷款，并且像许多早期采用者一样拥有100个比特币，那么您仍然可以借用几百万美元，而无需出售它们。”

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％），比特币必须低于40,000美元，才能清算借款人。罗卡对Cointelegraph表示：“我们几乎没有40,000美元。

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

相关：准备机构的区块链，律师犹豫：DoubleZero首席执行官

Borrowing helps investors avoid selling in emergencies

借贷可以帮助投资者避免在紧急情况下出售

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说，由比特币支持的贷款为希望在面对生活意外支出时保持接触BTC的持有人提供了解决方案。罗卡说：“如果您遵循投资的精神，那么聪明的事情将在三天内不出售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.

罗卡补充说：“但是生活妨碍了。”他告诉Cointelegraph，意外的费用，例如医疗费用或更换汽车，通常会迫使投资者在不利时期清算资产。 Rocca说，投资者可以在贷款上仅支付利息的同时，而不是以10,000美元的费用出售比特币，而是可以借贷。

“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.”

他说：“您继续对比特币的价格欣赏的上涨潜力，因为您还没有出售它。” “但是您将获得流动性，以支付日常生活中所需的东西。”

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.

随着机构采用的加剧和比特币市场的成熟，Xapo银行高管押注，更多的长期持有人将准备好在不出售BTC的情况下利用加密流动性。这标志着从“ hodl”文化转变为比特币所有者可以通过资产做更多的时代。