Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Michael Saylor Says Bitcoin is Hope For Canada
by
takuma sato
on 17/08/2021, 03:14:58 UTC
⭐ Merited by NotATether (1)
I slightly dislike(I know, I can be petty) those Twitter people who seems to think that Bitcoin is the answer to literally whatever news-trending problem there is. But "wasted" renewable energy is one good use-case of Bitcoin mining. They contribute to the network, and at the same time they get value in exchange for the supposedly wasted energy. Win-win!

Michael Saylor is overleveraged and continuously doubles down on massive Bitcoin long positions every time it dips. His entire otherwise stagnant business depends on his BTC holdings now. Buying MicroStrategy stock basically means buying BTC under the fiat system. Don't get me wrong I like guy as a fellow Bitcoin, however people so invested on it financially usually become and start seeing Bitcoin as a key that fits on every lock. I think these guys are going to get rekt bigly the moment expected long term bullish models fail.