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44 sats \ 2 replies \ @bitcoingraffiti 11h \ parent \ on: Saylor's Latest Strategy: Raising Funds to Pay Dividends econ
So then you're not sarcastic but serious.
Explain why you think it's a ponzi?
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0 sats \ 1 reply \ @denlillaapan OP 11h
Literally in the article above.
If your "returns" depend on raising capital from new investors to pay the old ones, you're literally a Ponzi.
Sandstedt's article at BitcoinMagazine lays it out well https://bitcoinmagazine.com/bigread/the-bitcoin-treasury-companies-bubble
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0 sats \ 0 replies \ @nkmg1c_ventures 6h
They also make money on software, so if the only source of income was new investors I'd totally be with you. I think they added that clause because dollars are normally fungible, also the holders of preferred shares are treated as more "first-class shareholders" in many settings.
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