Digital Gold Rush: People Are Taking Out Mortgages to Buy Bitcoin


People are going insane for Bitcoin and other crypto currencies like Monero and Bitcoin Cash. Alabama Securities Commission Director Joseph Borg spoke about the new investment craze today on CNBC. Apparently, people are taking out mortgages to buy Bitcoin.

“We’ve seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines,” said Borg. “This is not something a guy who’s making $100,000 a year, who’s got a mortgage and two kids in college ought to be invested in.”