Co-Founder of Ledn: "Before Bitcoin, my most successful investment was shorting the bolívar"

Bitcoin holders can now employ a similar strategy by shorting the US dollar and holding onto the harder asset, BTC, said Mauricio di Bartolomeo.

Before discovering Bitcoin

BTC

€94,217

, Ledn co-founder Mauricio di Bartolomeo found success shorting the Venezuelan bolívar as it rapidly lost value against the stronger US dollar. Now, with the US dollar depreciating against Bitcoin, borrowing against Bitcoin instead of selling it has become a more viable strategy.

"Before Bitcoin, my most successful investment was shorting the bolívar with dollars," di Bartolomeo told Cointelegraph in an exclusive interview at the Consensus conference in Toronto, Canada.

"I was borrowing bolívares and buying dollars with them, holding the strong dollars and having a debt position in the weaker currency," he explained.

The arrival of Bitcoin-backed loans means that investors can now effectively implement the same strategy using a stronger currency as collateral.