You can say what you want about Saylor but his playbook is brilliant. Buy Bitcoin, borrow money using your Bitcoin as collateral to buy more Bitcoin. Borrow more money using your Bitcoin as collateral to buy more Bitcoin. Rinse and repeat.
Raising another $500M to buy more sats
...this is how some people used Celsius...😬
when/how does the borrowing get paid back?
they're issuing "senior (debt) notes" to their backers. This round of notes is due in 2032
I see
It's madness, really. It's a trade that only makes sense if both sides agree that the debt notes will soon be worthless.
This is just using leverage. Nothing new.
It's great while it works.
I'm kind of doing this. Major purchases are mostly financed. $ otherwise used to purchase goes towards buying sats.
Hopefully I'll just pay off debt with mined cuckbucks... worst case I'll have sats to help payoff debt.
