A few days ago I've asked a "wrong" question: What are the pros and cons of buying in cash and remortgaging vs taking a mortgage right from the start?
It wasn't the actual question I wanted to ask.
In the foreseeable future I can internalise opportunity that project I'm co-creating obtains substantial amount of funding via cryptocurrency such as Bitcoin or Ethereum.
Potential investors have already expressed concerns - can you guarantee better ROI than simply holding on to BTC?
My instantaneus reaction was - we will not spend BTC, we will use them as collateral when applying for the mortgage.
EDIT / UPDATE:
Thank you var valuable and insightful comments. I'm pretty convinced that crypto is here to stay, not so sure about the future of "paper" (FIAT) money. I would like to have best of two worlds - mantain value in crypto, while having access to real-world assets.
I spoke with mortgage advisors some time ago, not only I need to have 30% deposit upfront but also a business plan and 3 years of accounting history. Ideally I would like to say - I'm a smart guy, I can figure it out.
I do not understand their motivations - I'm paying 30% upfront and if I fail they'll get a building and 30% for free (maybe they'll treat a building in the books as a burden). I'm a smart guy, I can figure it out - definitely need to lawyer up and connect with people who are more experienced in writing proposals that are accepted by traditional finance.
PS. Started conversation with Bank of England and Financial Conduct Authority about best way moving forward.