Post
Topic
Board Economics
Merits 1 from 1 user
Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
by
Poker Player
on 02/08/2021, 06:32:05 UTC
⭐ Merited by JayJuanGee (1)
I am not sure if you really believe this self-fulfilling prophecy concept.

Lol. I said I've been thinking about it lately. I don't believe it like some people believe in God if that's what you mean.

I doubt that bitcoin gives any shits about whether Saylor likes it or not or whether Saylor promotes it or not...

If we are talking about the very long term, of course not. Bitcoin if I remember correctly started being traded for price below $0.01 (correct me if I'm wrong). If we agree that in the future it will be worth $1M or more, Saylor has little influence on that long process.

If we talk about the last year and the near future, I think it has played an important role, especially in the popularization to companies and to a lesser extent to retail investors. Nowadays you search for "Bitcoin" on Youtube and you immediately get Saylor's videos.

In terms of companies, in February they held their annual user conference which included the Bitcoin for Corporations. According to Mr. Saylor, the Bitcoin program attracted 8,197 attendees from 6,917 different enterprises. He has the videos posted on the website for anyone who wants to see them.

I don't disagree with other ideas in your post, except the implication that you are trying to make that Saylor has any actual material or meaningful role in bitcoin's success....

Again, if we consider the long term in Bitcoin, I think he has little influence. And that Bitcoin is going to succeed more because of its intrinsic properties than anything else. But I didn't want to focus on him so much as on to what would happen if big businessmen happen to have the same conception of Bitcoin as Saylor and act like him, buying a lot of Bitcoin to never sell it, which means a reduction in offer in large quantities. MSTR has approximately 100K Bitcoin. You could get to the point where 1M BTC or more are never offered to be bought.

By the way, this is the first time I've replied to you at length in a post, and I enjoyed it.

Today marks one year since I registered on Bitcointalk and I feel old enough Smiley