The biggest cryptocurrency exchange in the US, Coinbase, has expanded the number of states where US customers can borrow cash against their Bitcoin. Now, more Bitcoin holders can use their cryptocurrency as collateral and borrow as much as 40% against them without having to sell their BTC and incur a taxable gain or loss. As per the Coinbase website, one can borrow up to $100k from the San Francisco-based exchange with a 7.9% APR without requiring a credit check. Line of credit offer is currently available to residents of Arizona, California, Idaho, Ohio, and Tennessee. As for fixed-term loans, they are available to the residents of Alaska, Arkansas, Connecticut, Florida, Illinois, North Carolina, Nebraska, New Hampshire, New Jersey, New York, Oregon, Texas, Utah, Virginia, and Wyoming. Here, you can borrow up to $100k with an 8% APR. Meanwhile, the price of COIN shares is seeing an uptick in line with the gains recorded by Bitcoin, which dropped to $31,000 on Tuesday and is today back above $38k. While moving above $224 COIN share prices are still down from their opening level of $381 on April 14 and the highs of about $430 per share the same day. However, according to Analyst Patrick O’Shaughnessy, a fair market price for COIN would be approximately $95 per share.
Coinbase Extends its Loan Against Bitcoin Service to More States, COIN Share Price Records an Uptick
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10 June 2021 15:19, UTC