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583 sats \ 3 replies \ @faithandcredit 27 Mar 2023 \ on: MicroStrategy Repays $205M Loan at 22% Discount for $160M, Acquires 6,455 BTC bitcoin
This is bearish. Noone intelligent is going to look at this and be like "wow im going to buy too" all it does is it turns off people who are on the sidelines. "They dont want to buy bitcoiners bags. "
All microstrategy has to do is buy and hold 1 BTC, but thats too late now. Because buying and holding 1 BTC is an example most companies can follow. Not this degen bullshit.
I have to agree. As much as on occasion I've understood his interpretation of Bitcoin he's a little too repetitive and relies on a lot of goofy metaphors for my preference.
Also putting so much credence on one man's conviction is pretty shakey ground to stand on. There are far better voices in the space, and getting giddy over one guy having so much from an outsider, non institutional player perspective isn't really bullish.
That being said good for him, and if this whole thing works out his entrepreneurial spirit may be a great boon to funding start ups in the space in the future.
"degen bullshit" is pretty accurate.
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I'd say this is approaching mental illness. When is enough? Why are all CEOs seemingly addicted to chasing an ever bigger number, regardless of how many zeroes
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Why does all life want to reproduce?
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