Michael Song

Michael Song is the publisher of borrow/on/bitcoin and works at Sypher Capital, the firm that operates this site and manages the Sypher Bitcoin Yield Fund. He oversees the editorial comparison of Bitcoin-backed lenders: how they price loans, how they custody collateral, whether they rehypothecate, and how borrowing against Bitcoin compares to selling it.

The goal of the site is narrow and practical. Most Bitcoin holders evaluating a loan have to piece together rates, loan-to-value limits, custody models, and liquidation terms from a dozen lender sites written to sell. borrow/on/bitcoin puts that information side by side, verified weekly against each lender's primary sources, so the comparison is something a borrower can actually trust.

What he covers

• Bitcoin-backed loan pricing, APR, and fee structures
• Custody models, rehypothecation, and counterparty risk
• Loan-to-value, margin calls, and liquidation mechanics
• Bitcoin mortgages and qualify-with-crypto programs
• The tax and decision trade-offs of borrowing versus selling

Editorial standards

borrow/on/bitcoin is a publisher, not a lender, broker, or registered investment advisor. Lender data is verified weekly, default ordering is not influenced by compensation, and the full ranking and verification process is documented in our methodology. See our disclosures for affiliate relationships and editorial independence.