C on Nostr: I was going to move my Bitcoin to fidelity because a bank told me they won't loan ...

I was going to move my Bitcoin to fidelity because a bank told me they won't loan against Bitcoin because they don't know how to custody it (!), but they would loan 50% against a fidelity stock.

So I called Fidelity and asked how it worked. They said you can't just transfer Bitcoin to them. You have to first convert to dollars, then move the dollars to fidelity, then buy the Bitcoin again with fidelity dollars. So how tf do I know they actually have my Bitcoin?

The whole thing started to smell like a scam to me, so I backed out. I don't need the loan that bad. Done playing their games.