Michael Saylor's MicroStrategy Raising Another $500M to Buy More Bitcoin

this sounds like a ponzi scheme in the making, or at least not going to end well

#studybitcoin

The fiat scheme is the bigger ponzi. It's already the case that to earn any decent income in the fiat ponzi, one must have special social connections to business leaders and/or politicians. It's just like under communism.

I don't even like Bitcoin and don't own Bitcoin because I have ethical concerns about it. Bitcoin promotes corruption of the socio-political system via extreme, massive-scale tribalism. That said, it's probably the lesser of two evils.

As an outsider, it's ironic to witness fiat proponents neglect the power of corruption which they themselves have been benefitting from to a far greater extent than Bitcoiners.

The side which can exert the most corruption (the will of their tribe), most quietly, will win. Likely Bitcoin since it has the support of the masses and business leaders. Fiat proponents can only blame themselves. They're the ones who made Bitcoin possible with their global ponzi.

I don't like the current system and I also don't particularly like where it's going but the trajectory is clear.

There's some hay in the cryptocurrency space right now about how MSTR's market cap merits its inclusion in the S&P 500, which some think will cause a "flywheel".

(1) Index funds purchase MSTR shares, driving up the price; (2) thus allowing Saylor to issue more debt to buy BTC, which drives that up; (3) MSTR shares appreciate due to its BTC holdings; (4) go to step 1 as funds need to rebalance and add more MSTR shares.

The weak points to this idea are definitely step 2 and even 3. MSTR won't be able to keep finding entities to buy its debt indefinitely, and MSTR is already trading well above what its BTC holdings' appreciation would justify, so there's some obviously unsustainable mania going on.

why is Bitcoin so divisive? why some people just “get it” and other scream until they are blue in their face it’s a scam?

it’s such a curious litmus test for something but I’m not sure exactly what.