Ledn co-founder is shorting the US dollar with Bitcoin
Summary
Mauricio di Bartolomeo, co-founder of Ledn, previously achieved success by shorting the Venezuelan Bolivar against the US dollar. With Bitcoin's rise, borrowing against Bitcoin has become a viable strategy instead of selling it. Ledn, based in the Cayman Islands, allows Bitcoin holders to access dollar liquidity without selling their BTC. This approach mirrors traditional investment strategies, where investors borrow against hard assets. The crypto lending market has expanded significantly, valued at $30.2 billion by Q4 2024, driven by Bitcoin's appreciation and institutional interest. Ledn ranks among the top three centralized finance lenders, with a loan book of $9.9 billion, collectively holding 89% of the market with Tether and Galaxy.
