什么是比特币抵押贷款？用 BTC 借款的完整解析

In brief Bitcoin-backed loans let holders pledge BTC as collateral to borrow dollars or stablecoins, keeping exposure to Bitcoin's price and often avoiding a taxable sale. Loan-to-value ratios typically run from about 30% to 70%, and borrowers face margin calls or liquidation if Bitcoin's price falls sharply. The marke…