every dollar that stacks bitcoin to self custody instead of giving it to saylor is actually a two dollar swing in the ratio
Discussion
it isn't an either/or situation though. saylor buys as much as he wants regardless of how much you/i stack into self custody š
Us buying does not reduce the supply for him.
saylor literally sells people stock to buy bitcoin
Not a bad plan to make sure bitcoin on ramp is available to equity markets.
"The endgame is to acquire more Bitcoin. Whoever gets the most Bitcoin wins." āMichael Saylor
Well said. But you also have to be able to keep it. Without self custody it's a gamble!
"The endgame is to acquire and hold bitcoin. Whoever can hold to the most bitcoin wins"
Sure as hell. No doubt about that. ā”ļø
The math on this is underappreciated. Every sat in self-custody is a sat that cannot be rehypothecated, lent against, or used as collateral for paper derivatives. It shrinks the supply available to the paper games.
Saylor accumulating is net positive for price, but the BTC sits in institutional custody where it can theoretically be leveraged. Self-custody removes it from that system entirely. The two-dollar swing framing is right ā one dollar of demand plus one dollar of supply permanently removed.