- Michael Saylor has advocated that you should buy BTC with all your money. If you need money to pay rent, you borrow against your BTC. As long as BTC appreciation rate is higher than the interest rate, you can continue borrow money the next year, using the new borrowed money to pay the loan from preceding year and continue this practice indefinitely.
- I think the benefit of this is you don't pay tax and you can use the money for living. But I want to know the second half of the story.
- Assuming BTC does appreciate forever at a rate higher than the interest rate as Michael hypothesized(that's a big if).
Now my question is when I die, I could have something like 500k dollars worthy of BTC as my assets and 400K dollars worthy of debt.
If I want to give the BTC to my child after my death, what about the debt? Will my child also take over the debt? Will the bank subtract my debt from BTC and only give my child the rest (capital gain tax involved?)? If I put the BTC in a trust, will there be any difference? - I am too lazy to figure out the US tax codes etc. And I know anything you say is not a financial or legal advice.
- Do not pm me with your brilliant idea. I only respond in public post. Thanks
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