Bc if you’re buying doge (for example) you are not buying some other shitcoin, and your doge buy in no way benefits any other shit coin, so shit coins are constantly taking marketshare from each other. That’s why they rarely stay on top for years
Discussion
Doge isn't a shitcoin but either way I don't see how buying Bitcoin IOUs via the stock market is teamwork that benefits the value of all the stocks
There are just Bitcoin price tracking stonks that work as long as they have the liquidity to work, and other Bitcoin related stonks with no direct price tracking function and thus prices controlled by the DTC
Let’s say you are smlr, whenever MSTR does a massive buy and put upward price pressure, it also increases the value of SMLR‘s reserves, so they’re almost working as a team to pump as much value into bitcoin as possible and the more companies that do this, the more gets pumped into the price and the more their reserves increase in value
But that doesn't matter for shareholders of DTC IOUs
that's how i see it. it's like a pumped storage hydro facility.
all the hodlers were running up the hill with their jugs of water to fill the Bitcoin storage lake, and MSTR turned on their pumps, and now SMLR.
some people worry about what happens if the MSTR pumps break and the flow runs in reverse...
https://en.wikipedia.org/wiki/Pumped-storage_hydroelectricity