JPM:
(1) deposit one bitcoin with one of the largest banks on this planet, and allow JPM to charge you a 2% custodial / management fee per annum
(2) current BTC pricing at $30,000 (maybe by tonight), and heading to 500,000 (because we know we shall be buying sooner rather than later as other competitors do so)
(3) We shall make you a collateralised loan at 0.01% per annum, limited to $ 3,000 at this contract time
(4) Loans to you are not taxable, and you can spend as you please (even if buying more btc)
(5) Do above (3) for 10 years, and you will have borrowed tax-free $30,000 over the 10-years, we will have charged you $6,000 in fees + inconsequential amount in interest
(6) Value in a/c likely between 500,000 - 1M
What do you say?
Yes, if you buy 10 BTC, the annual loan drawdown would be $30,000, and so forth, tax-free.
Competitor to JPM:
We best weaponise BTC and now, else we would be looking for new jobs tomorrow |
