Odaily Planet Daily News reported that NYDIG, a subsidiary of Stone Ridge that offers Bitcoin-backed loans, revealed in a letter to investors that it is preparing to expand its services through float financing in 2024. The letter refuted the common objections to the utility of Bitcoin, indicating that it can generate cash flow through sales and serve as collateral for fiat loans. Analysis suggests that integrating float financing into Bitcoin-backed loans could change the market and provide a source of liquidity for BTC holders. Stone Ridge envisions a positive feedback loop that could enhance the utility of Bitcoin holdings by excluding Bitcoin positions from the market, accelerating fiat devaluation, and further increasing the value of Bitcoin. Marathon Digital advisor Sam Callahan described this move as significant, as it would unlock 'one of the largest pools of investable capital in the entire financial system' for the Bitcoin ecosystem. He also agreed with the report's view that achieving more efficient lending through Bitcoin support would lower costs and prevent BTC from being sold for liquidity. This would increase prices by enhancing scarcity and demand, attracting more institutions, and accelerating its adoption.

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