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I look at these companies, MSTR being the prime example, and I just don't get it. I hear the term arbitrage tossed around a lot, and I figure I must not be smart enough to understand what the fuck they're actually doing.
Like the article says, maybe this time is different, but for me, if I can't figure out how you're doing what you're doing, I'll just continue selling my fiat for BTC.
Yeah, that's the safer option.
But when they blow up, they'll puke the coins back out (at any price) and make all of us poorer. Great...
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38 sats \ 0 replies \ @Aardvark 14h
Should I use your favorite "stupid bitcoiner" talking points? Buy the dip, cheap corn, etc....
I'm crossing my fingers that when some of these treasuries implode, it won't cause a large drop in the price. I've seen an argument that the reason bitcoin hasn't gone up higher with all of these companies buying, is that it's primarily bitcoiners reallocating funds from BTC to MSTR.
With any luck, the companies themselves will implode in a spectacular fashion as people funnel their money back into bitcoin. It certainly will be a "buy the dip" scenario, but it could be offset by an explosion of funds leaving these companies.
It's probably mostly wistful thinking at this point, but it's something to consider.
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