https://xcancel.com/saylor/status/2052394763001761817
The notorious fraudster Michael Saylor has spent years begging people to remortgage their homes for Bitcoin, to sell their kidneys for Bitcoin, and to do whatever possible to hoard Bitcoin and not use it. But eventually the music stops, and now that he is faced with growing divdend payments, he is forced to do the one thing he promised never to do, which is to sell his Bitcoin.
https://xcancel.com/great_martis/status/2051812356116955185
I found this fantastic summary of how Strategy is a pyramid scheme yesterday. It highlights how the only revenue that Strategy is making is from people buying more of their preferred shares. In other words, the only revenue their company makes is from new money coming in. This is the classic foundation of a ponzi scheme. This means the only other way for Saylor to get dollars is to sell his assets, which is his Bitcoin, and this could have potentially catstrophic effects on the price of Bitcoin if a cascading effect were to occur.
Perhaps Saylor is slowly leaking this truth to limit the sell-off reaction once Strategy reveals they sold Bitcoin. As it is, he waited until after the recent Bitcoin Conference to reveal this information. It poses the question of what is the end game of a company like Strategy which continues to hemorrhage money, dilute its stock, and rely on ponzinomics to succeed. Thoughts?
