🎙️ Venezuela, Debt & the Case for Bitcoin Loans
Ep. 141 with
@cryptonomista
Mauricio Di Bartolomeo is the Co-founder of
@hodlwithLedn , the leader in Bitcoin-backed lending. He grew up in Venezuela, living through the early tremors of what would become one of the most dramatic monetary collapses in modern history, before coming to Canada in 2003. His front-row seat to hyperinflation under Chavez and Maduro shaped a deeply practical understanding of how money, debt, and institutional trust actually function, and gave him the conviction to build Ledn, which has issued over $10 billion in loans since 2018 and holds an estimated 30% market share in consumer Bitcoin-backed lending globally. We cover what hyperinflation actually feels like from the inside, why the wealthy borrow while everyone else is told to save, the philosophical debate over whether Bitcoin-backed debt is morally sound, and what the recent seismic shifts in Venezuela's political landscape mean for an oppressed country.
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00:00 - Coming Up...
01:24 - Introduction: Mauricio Di Bartolomeo
03:28 - The First Bitcoin Asset-backed securities (ABS) Bond
07:26 - Institutional Appetite: S&P Ratings & the ABS Market
10:25 - How Bitcoin-Backed Loans Work: Risk, Liquidation & Trust
14:15 - Ad Break: Ledn, Trezor & Abundant Mines
17:10 - Debt as a Tool: The Bitcoin-Backed Loan Philosophy
19:48 - Venezuela & Chavez: Growing Up With Inflation
21:34 - Inflation vs. Hyperinflation: Two Different Phenomena
29:20 - Surviving Hyperinflation: Your Second Job Is Converting Your Paycheck
31:29 - Shorting Fiat: How the Wealthy Use Debt to Build Wealth
39:18 - Debt and Bitcoin
43:21 - Venezuela: Frozen in Time
44:55 - Signs of Hope: What Changed on January 3rd
48:30 - Bitcoin 2026: Conference Outlook