Is it really possible for common people to use this loan strategy to live off BTC stack without selling, and is it sustainable?

I've heard people say you can get a loan for 1 year, and then repay it the next year all while living off the amount.

They say this is because the value of your BTC increases and you can just get larger loans over and over.

But I've also heard this is only available to traders or uber rich, can someone with a stack in the low millions get a loan?

And could they support themselves like this indefinitely?