The bull market has blinded some buyers to high fees and leverage risk.
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A few weeks ago we presented anecdotal evidence from Joseph Borg, director of the Alabama Securities Commission, suggesting that people are taking out home equity loans and cash advances on credit cards just to purchase BitCoin in the hopes of getting rich quick (see: "It's In The Mania Phase": Securities Regulator Warns That "Mortgages Are Being Taken Out To Buy Bitcoin")
"We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the...