I can’t tell if it’s a snake eating itself, or if it’s just financial folk doing fancy financial things to sell paper to plebs in order to accumulate hard assets.
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I can’t tell if it’s a snake eating itself, or if it’s just financial folk doing fancy financial things to sell paper to plebs in order to accumulate hard assets.
Because it's a publically traded company, it has been given a valuation premium above the fiat value of the bitcoin it "owns." (If you trust coinbase). It is a toy for hedge funds to play with volatility. How long Saylor can keep all the balls in the air is anyone's guess.
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I'm not certain, but I think coinbase is the main custodian for all the big corporate entities. I think the fact that it is a public company supposedly adds credibility.
Yes it is.
https://www.timechainindex.com/?resource=ChartsCoinbaseBUM
That's a great site!
This is not selling debt to plebs. All fiat originates as debt. Banks create debt (fiat money) with no risk and no opportunity cost. This debt has artificially low interest rates, because to the bank, it is cost-less.
Corporations take advantage of this extremely cheap debt, expand, buy assets, and buy upstarts (YouTube, for example).
Saylor is just using asymmetric information to buy the most valuable asset with artificially cheap debt. It’s brilliant. Once more businesses and individuals discover this, it accelerates the demise of fiat.
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SAYLOR IS A SCAM TO FOOL MORE PEOPLE AND PUMP THE PRICE UP.
He's just a tool used by the "big boss" behind him...
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https://xcancel.com/saylor/status/1859234037186904238