You'll need a subscription to read the full article, but the public-facing portion of the piece provides food for thought.
https://quoththeraven.substack.com/p/saylor-breaks-the-immaculate-bitcoin
I am not anti-Bitcoin, I just have a very nuanced position on it which includes a very healthy dose of skepticism. I explained this in a 2 hour long interview two years ago, for anyone who cares about my take. But, in short, what you need to know is that here on this blog I have said repeatedly that Bitcoin and crypto sit at the very tip of the risk spear in today’s market.
Bitcoin is not just another asset. It is a highly speculative instrument whose value depends heavily on confidence, liquidity, adoption, and the belief that the network will continue to expand. Psychology is not a side issue in crypto like it is with a company generating billions in cash per year. Psychology is the issue. The ecosystem depends on people believing the next buyer, the next institution, the next treasury company, and the next wave of adoption are still coming.
That is why Michael Saylor’s recent sale of Bitcoin matters.
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Seems like it was more a way to get the fringes of society, IE organized crime and political fringes, who were critical of banks and other financial systems to invest their wealth into another financial system. Tying it up in a speculative system that makes the stock market look more stable.
One of the most fascinating podcasts I've ever watched was lex fridman interviewing Saylor 4 years ago.
At that time, he was a bitcoin is a train with no brakes and will 100% hit 10m per coin.
Anyway, that wasn't the really interesting part. What got me thinking was his thoughts on tge future of education. He was arrogant but made a great point.
Brick and mortar traditional colleges are dinosaurs. Being taught mathematics by retards and not geniuses such as himself was ridiculous.
He said he should be teaching millions as opposed to retards teaching a few dozen to further the retarded
Hehe, he is quite full of himself, but he made some interesting arguments. Worth thinking about as he is right about education as it is today? A complete failure.
Here is a simple logic: if bitcoin was really a freedom currency, we would have all gotten freedom from the banksters long ago.
Sad thing is there isn't one single commodity that's been available for purchase via bitcoin at constant bitcoin price.
Everyone who sells anything on bitcoin always do it by tracking it in fiat price - hence proving that in practice bitcoin does not have independent price