Wealthy families have always borrowed against their assets instead of selling them, and Bitcoin holders spent years without a safe way to do the same. Cam Stromme sits down with Himanshu Sahay, co-founder of Arch, on how a Bitcoin-backed loan should work and what to demand from any lender.Guest: Himanshu Sahay, co-founder of Arch, a Bitcoin-backed lender.X: https://x.com/hhsahayArch: https://archlending.com/Arch on X: https://x.com/ArchLendingBOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd's of London. Speak with our team to see if it fits.👉 https://go.onrampbitcoin.com/consult-fp-podGET ON THE LISTOur research, event invites, and the week's Bitcoin news in one free email.📩 https://go.onrampbitcoin.com/research-fp-podABOUT THIS EPISODEHimanshu Sahay built consumer apps at Tinder, Bird and Snap before co-founding Arch with Dhruv Patel, and he launched it as the last generation of crypto lenders collapsed. He tells Cam why Bitcoin holders deserve the same buy, borrow, die playbook private banks offer their clients, and what Arch decided to do differently from day one: no rehypothecation, client collateral held at a qualified custodian in segregated addresses borrowers can check themselves, and state lending licenses. They get into who borrows against Bitcoin and why, how margin calls are handled when the price drops on a Friday night, where the dollars behind a loan come from, and what an interest rate that looks too good is telling you. Himanshu also walks through collars that remove margin call risk, a loan built to accumulate more Bitcoin, and why most banks are still years away from lending against it. Onramp has partnered with Arch for nearly two years.CHAPTERS00:00 - Himanshu Sahay and Arch01:12 - From Tinder, Bird and Snap to Bitcoin04:09 - Buy, borrow, die for Bitcoin holders06:27 - Starting a Bitcoin lender in the 2022 collapse08:08 - Why Arch never rehypothecates collateral12:20 - Segregated custody you can verify16:13 - State lending licenses and the BitLicense20:17 - Who borrows against Bitcoin, and why22:56 - Getting a Bitcoin-backed loan in minutes24:54 - Margin calls, price wicks and safeguards31:11 - Loan to value, APR and deferred interest33:09 - Where the lending dollars come from38:02 - Upsizing and rolling over a loan39:39 - Collars, no margin calls and the Bitcoin accumulator44:23 - When banks start lending against Bitcoin48:59 - Borrowing against spot Bitcoin vs ETFs52:12 - The financialization of Bitcoin54:53 - Be curious, and be conservativeABOUT THE SHOWFirst Principles is Onramp Media's show on building and protecting Bitcoin wealth for the long term, hosted by Cam Stromme, Head of Private Wealth at Onramp. Join Cam's conversations with the people building Bitcoin's financial services on how they manage their own Bitcoin, how they weigh risk and tradeoffs, and what they see coming next.MORE FROM ONRAMP MEDIA• The Last Trade and Final Settlement: https://www.youtube.com/@OnrampMedia• Signal vs Noise, live once a week: https://www.youtube.com/@SignalvsNoiseLIVE• Audio, every show: https://podcasts.apple.com/us/podcast/id1690709152 or search Onramp Bitcoin Media on Spotify• News and data: https://onramp.mediaOnramp does not provide financial, tax, or legal advice. Nothing here is a recommendation to buy or sell any asset. This episode is for entertainment purposes only.