Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto Superior to Cash
Lately I've been thinking how much of a self-fulfilling prophecy Saylor's conception of Bitcoin may be. For him it's basically the best financial asset in the world, and that's why he's not going to sell it. Never. He's going to keep buying as much as he can. I think the pic that Fillippone posted in the WO thread characterizes it perfectly.
LOL
As of June 21, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins,
He plans to keep buying. Non-stop
What happens to those Bitcoin he buys? They reduce the offer. It's as if they are lost. They don't flow. The more Bitcoin he buys, the more he reduces the offer and the more pressure he puts on the price to go up.
If big businessmen start sharing their vision, the predictions of several million per Bitcoin in the future are going to be easy fulfilled but largely due to this self-fulfilling prophecy. The whales believe Bitcoin is too valuable, buy it and never sell it, and create even more scarcity than Bitcoin already has because of its limited (deflationary) nature and the reduction of supply with halvings. Aside from the Bitcoins lost already and those that may be lost.
LOL
As of June 21, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins,
He plans to keep buying. Non-stop
What happens to those Bitcoin he buys? They reduce the offer. It's as if they are lost. They don't flow. The more Bitcoin he buys, the more he reduces the offer and the more pressure he puts on the price to go up.
If big businessmen start sharing their vision, the predictions of several million per Bitcoin in the future are going to be easy fulfilled but largely due to this self-fulfilling prophecy. The whales believe Bitcoin is too valuable, buy it and never sell it, and create even more scarcity than Bitcoin already has because of its limited (deflationary) nature and the reduction of supply with halvings. Aside from the Bitcoins lost already and those that may be lost.