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5 sats \ 0 replies \ @gmd 12 May 2022
Was just about to post this. Still working my way through it but so far:
- Clarifies that they are only minimally levered at 1.04x
- $21k margin/liquidation is a myth distorted by twitter/media hearsay. They are safe until BTC hits $4k, he says at that point he'll have to "sell one of his jets or something"
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21 sats \ 0 replies \ @2big2fail 12 May 2022
bottom line is that he is being measurably long with btc exposure and has access to a lot of fiat tools such as convertible notes bonds and minimal leverage that allow him to do a lot of buying in excess of cash flows. his runway for price appreciation is 5+ years
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0 sats \ 0 replies \ @go 13 May 2022
Two great thoughts from it:
“The markets really been set by people with more money than you but with less knowledge than you. They’ve got broken models in there using conventional metrics. “
“The people that understand bitcoin are maximalists, which means they’re not in the market setting the price. All of the maximalists are all in and they dollar cost average. So the maximalists are not setting the price; The traders that don’t really understand bitcoin are setting the price”
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