Replying to Avatar TKay

I admire Saylor’s understanding of #bitcoin

I disagree with how he buys bitcoin. He is basically repeating the 2008 housing bubble. Which will send us back years when it pops. But cheap sats then ☺️

I disagree with his point on never selling. It’s an illogical thought. And btw, if someone takes a loan against an asset, that is a form of selling.
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Joda 1y ago

" takes a loan against an asset, that is a form of selling."

Interesting position. Other people say exactly the opposite: take a loan against it *so that you don't sell it*.

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TheGrinder 1y ago

loans have to be settled eventually. but his playbook is pretty good. borrow money to buy bitcoin then use the bitcoin as collateral to borrow money to buy more bitcoin to use it as collateral... rinse and repeat. However, we're not changing the asset class to SoV because it's more convenient for institutions. Bitcoin stores value by design but it's an electronic cash system. Also by design.

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TKay 1y ago

Are you free to do what you want with an asset after you take a loan against it? Nop. You can’t sell it, in the case of bitcoin, you don’t even hold the keys to them.

Simply - the asset is no longer yours.

You will get it back after you buy it again.