21 sats \ 4 replies \ @w3irdrobot 14 Mar \ parent \ on: MicroStrategy’s Speculative Attack bitcoin
the idea isn't to slow their purchase. the idea is to make buying bitcoin as a speculative asset a bad investment. microstrategy is buying to sell later, more than likely. i'm not convinced of saylor's intentions to buy and use it later. meaning he's depending on there being a market for it later. shrink the interest in that market, and they stop buying because they can't sell in the future.
Saylor has been clear he is not selling though.
reply
you're probably right. billionaire CEOs of corporations unaffiliated with what they are shilling are well-known for truth telling.
reply
What would be the hidden goal then, personal greed?
He's just going to be the largest bitcoin holdings company, maybe become a bank, whatever possibilities that entails.
reply
lots could happen. buying up so much can be seen as manipulation of the price. pumps the price which causes others to hop on. do it for long enough then dump. owning so much gives alot of power if bitcoin ever does become an accepted currency in a place like the states. becoming a bank is interesting. also comes with alot of power.
regardless of what happens, my trust isn't earned by buying up so much of an asset, holding it, and giving back nothing in return outside of empty platitudes such as "there is no second best." i'm not saying he has to give back anything. however, i also don't have to trust his spoken intentions with no actions behind them.
reply