It's a bad idea to collaterize bitcoin when the downside risk is huge. An easy way for the institution to collect cheap bitcoins through liquidations.

yeah as long as the price is primarily propped up by fiat degens its a really bad idea.

Excellent analogy

Any well executed LOTR analogy is an instant retweet from me 🤙 nevent1qqsy8gqflm6vu6skxadtkw9cm0uvvxq7plm5u20xvzj32k9yj67kmwcpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhg2sqhpj