These other companies that have followed Michael Saylor's strategy that are also beginning to buy bitcoin to hold in their treasury to cause a pump on their company's stock, what does everyone speculate on this? Will this create another overinflated bubble that will pop and cause bitcoin to dump similar to the bubble pops before?
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If the "Bitcoin treasury companies" get overleveraged and finance bitcoin purchases through debt, then it poses a risk to the entire market that when the price goes south and reaches a certain level, those companies will be forced to sell. And when they do a mass sell-off, the price would go even lower, triggering another liquidations.
So I'm not a big fan of such companies getting too much share in the market, and that's what their strategy essentially is, i.e. keep buying bitcoins, so the price keeps going up, so their assets value increases so they can raise/borrow more funds to buy more bitcoins.
If this model doesn't collapse, in a long enough time scale, such entities will be holding the vast majority of bitcoins in existence (excluding lost coins etc), while the "normal" users will only have a small fraction of the supply left for them. It sounds like a good news for the price at first, but do we really expect people to trust a coin which value can drop overnight by over 90% if the shareholders of one of such companies decide (or are forced) to sell? Or if they get hacked etc?
So for those who are into bitcoin for a short or medium-term profits, companies with such business model are very good news, but for long-term holders or those who are into Bitcoin for more than just a quick financial gain - not so much.