That restriction is key to Schiff's argument. “Because under these loans, the lender is not allowed to sell the Bitcoin until after the loan goes into default,” he wrote when asked why crypto is different from other forms of collateral. Without the ability to liquidate early, lenders are more exposed if the asset's value drops significantly.Supporters say this represents a natural evolution of finance. Schiff, who has been one of Bitcoin's most consistent critics , however, pushed back on that logic. In a r ...