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We touched the credit sector a few weeks ago, but I want to join again.
I caught up with Ledn’s Mauricio di Bartolomeo, who told me that last quarter, Ledn did for $ 304 million to Bitcoin-Stunder Loaning original.
“Those are three times the original we did at the height of the market in 2021,” he added. And “multiples” of what Ledn saw in 2024.
“The demand for borrowing dollars and retaining the bitcoin is growing [at the fastest pace since] It once grew since we started this company in 2018, “said Di Bartolomeo.
Di Bartolomeo told me that the majority of their customer base is retail, although they have a number of institutional customers.
The question has grown more and more among people who are sitting on millions of Bitcoin – enough to retire – but who still want to use Bitcoin to have access to the traditional banking system for things like mortgages.
This cycle, says Di Bartolomeo, the bad seeds are pronounced – and people like former Celsius CEO Alex Mashinsky now serve time for the previous cycle. However, he warned that people still have to be careful when it comes to lenders.
“I would say that the question is exploding,” he said, but insisted on caution and zeal for people who have access to credit markets. It is not worth a sweetheart rate if the company does not succeed Vibe test.
Ledn zooms out is not the only one who has seen this cycle success so far. Maple Finance also sees success with its institutional loans in another sector of the credit sector.
This week’s research bill from Blockworks said that “syrup offers an asymmetrical investment case in credit, powered by mandatory valuation statistics towards peers, solid growthogens through the successful syruppools and the strategic IstBTC in principle”
Maple and LEDN have a very different target groups, so I am careful to avoid comparisons, but I think they each offer a unique viewpoint in the overall health of the credit sector.
The Institutional Loans Research study exams the BLOCworks study as $ 250 million in outstanding loans by the fourth quarter, while the basic case is $ 200 million in the same period.
