I don’t know these hunt bros. Who are they? 👀
Discussion
In 1970's the Hunt Brothers noted a squeeze opportunity in Physical silver. They saw the COMEX could not deliver the amount of Silver it claimed it had.
So throughout the 1970's Hunt Bro's started buying Silver to corner the market. They started buying with cash. Great.
But then they started buying with leverage. Critical mistake. They used more and more leverage as they drove the price up with their buying.
In 1980, Silver Thursday, Silver price dropped below their margin requirements and they went bust, and Silver collapsed.
✳️ The Hunt Brothers were right about the silver shortage. Their only mistake leverage.
✳️ Saylor is right about Bitcoin's limited supply. But the leverage he's using to buy it will skewer him eventually. He will not sell BTC to repay his loans, so when price drops significantly below his ACB, he'll be wiped out.
The irony is, fiat is failing due to debt, so people buy Bitcoin.
This fucktard is buying Bitcoin with debt. The exact same debt killing fiat. 🤦♂️
This is interesting.
As long as he can get those cheap loans he’ll continue 🤷🏾♂️
Like all cantillionaires, his debt is close to 0%, basically he has infinite fiat to buy bitcoin with. It is a state attack with the goal of building a walled garden of regulated, third party custodied, taxed, surveilled, and censored bitcoin while violently suppressing any bitcoin outside of that.
I remember having a similar conversation. We speculated that he wants to build a bitcoin backed bank ie enslave everyone
Praising "GigaChad" every time he bought more bitcoin, because it resembled the naive old "speculative attack by corporations leading to hyperbitcoinization" narrative. Same thing with people cheering on ETF's. Only now is it becoming clear that these are attacks designed to assert and maintain state control and dominance in the bitcoin era.
His debt is not close to 0%. It was $2.6B last year, and he added another $800m of convertible notes.
And he's now averaged UP, increasing ACB from $30k to $35k. Cornering a market with leverage ends the same as it always has through history.
There's no conspiracy. Only lunacy.
I think he maybe meant close to 0% interest debt