Bitcoin to Bucks: Crypto Fans Borrow to Buy Homes, Cars—and More Crypto – The Wall Street Journal

Bitcoin to Bucks: Crypto Fans Borrow to Buy Homes, Cars—and More Crypto – The Wall Street Journal

Michael Anderson mined bitcoin in his dorm room and left a corporate job to invest in cryptocurrency projects. When he bought his first home in San Francisco this year, he didn’t turn to a bank. Instead, he borrowed against his cryptocurrency.

Crypto enthusiasts such as Mr. Anderson are tapping their holdings to buy homes, cars and, often, more crypto. They are getting these loans from upstart nonbank lenders and automated, blockchain-based platforms.