I don't really understand the idea of bundling debt for a bitcoin purchase with debt for a real estate purchase. What's the synergy here? Similarly for education.

Say you bundled a $50k loan for education with a $50k loan to buy bitcoin. Why wouldn't the net terms be equivalent to two separate loans for each of these purposes?

I think the only way you'd get better terms by bundling is if the lender believes there's a negative correlation between your labor market outcomes and the price of bitcoin, which doesn't seem very natural to me.