If you are interested in borrowing against tour bitcoins, you should take a look at zero protocol on RSK bictoin merge mined sidechain.

You can borrow dollars against your Bitcoin, only 0.5% origination fee. You don't have to pay back your debt if you don't want to. You can borrow until 110% collateral ratio, below you will be liquidated. Your collateral on the contract can only be unlocked by your own keys and noone else, no third party.

The risks are the peg of RSK sidechain, basically it's a multisig federator, it needs improvements. For now some maxis can rightly argue it's not decentralized enough.

For me it's a good alternative to hodl hodl.