Jack Mallers' Bitcoin acquisition company exists to allow shareholders to borrow against their holdings.
It's the same idea as gold acquisition vehicles.
Borrowing against physical gold sucks, Bitcoin loans suck less - but still complicated.
The tax advantages here are too strong to go away from - this is just how the wealthy operate.
Bitcoins will be used in ways you don't like, you should understand this by now.
It also seems like an odd thing to care about how it’s used. If something is valued, of course people will seek ways to acquire more of it. And in fiat world, leveraging a bad money to acquire good money is extremely rational… in fact it’s arguably the most rational leverage one could use.
It’s essentially the dollar speculative attack, which has been discussed at length all the way back from like 212 or something. None of this is even slightly unexpected.
Does it change significantly versus borrowing against ETF? Or do you mean to leverage within the company so better terms?
Jack is smart and he delivers what the market demands.
I think it's bs and I will always buy the sats, but that's ok .... bitcoin doesn't care about him, me or anyone
Please explain. How Bitcoin will be used in the way we don’t like ..
