First rule of being a degenerate / professional lambo poser, you never want to be the bag holder while the smart money is getting outFirst rule of being a degenerate / professional lambo poser, you never want to be the bag holder while the smart money is getting out

So I was doing a deep dive into the strategy of Strategy, I didn't know how they are making money, like what's the business model? where's the yield come from 😁

I know that there is a common stock mstr and strc which pays 11% dividend but apart from that I'm not sureI know that there is a common stock mstr and strc which pays 11% dividend but apart from that I'm not sure

So I thought that I need to break some financial topics down and understand each one to be able to grapple the understanding of this playbook

I'm fairly ok with bonds and standard stonks, but I was quite impressed with the mechanics of the convertible bond, I mean i'm not endorsing any of it but the ability in any setting that a trader can buy a bond, which has a certain amount of stability, and choose to keep it as a bond if the price is going down, or convert it to a stonk if the price is going up, sounds like on the outside, like a pretty sweet deal

I'm not an economist obviously, but this topic does raise it's head a lot, with Den's numerous posts and the amount of press Strategy gets, and after a bit of research, I'm still pretty unfamiliar with it allI'm not an economist obviously, but this topic does raise it's head a lot, with Den's numerous posts and the amount of press Strategy gets, and after a bit of research, I'm still pretty unfamiliar with it all

Obviously it's very elaborate financial engineering and that's all well and good but still, it is a gamble on the fiat price right?

With regards to the stagnated price, i've read the piece by Jeff Park about the manipulation of the price and Jordi Visser's piece about Bitcoin’s ipo moment ie: early whales are selling and the other story concerning the whale that sold 80k coins via Galaxy for around $9B

And because Saylor is sitting there with a supposed infinite money glitch buying a billy a week, it looks like he is holding the door open for these early whales to exit?And because Saylor is sitting there with a supposed infinite money glitch buying a billy a week, it looks like he is holding the door open for these early whales to exit?

All that money generated from mstr, strc etc is transferring liquidity to the whales, which could leave Strategy holding the bags?

Time is on the side of the whales that sold, they are now all in fiat and can throw all that cash in US treasuries and wait this out

Saylor or Strategy is paying out the dividend while waiting this out and that's where the rumours of liquidation etc all originate fromSaylor or Strategy is paying out the dividend while waiting this out and that's where the rumours of liquidation etc all originate from

Saylor is trying to frontrun the market and we often hear, they can't be caught now etc but there was a famous case in the 70s with the Hunt brothers where they tried to frontrun the silver market, i recommend you search it up, it has two eerily coincidental points

● In the 70s the US had as we all know come off the gold standard, the Hunts even back then were convinced that paper currency would become worthless and wanted to invest in hard assets, but they couldnt invest in gold in large quantities because there were still rules prohibiting hoarding gold, probably going back to the 6102 days● In the 70s the US had as we all know come off the gold standard, the Hunts even back then were convinced that paper currency would become worthless and wanted to invest in hard assets, but they couldnt invest in gold in large quantities because there were still rules prohibiting hoarding gold, probably going back to the 6102 days

● So they chose silver because it was relatively unregulated, and today's news stories of silver going on an unheard of rip is so weirdly connected● So they chose silver because it was relatively unregulated, and today's news stories of silver going on an unheard of rip is so weirdly connected

The story of what happened to the Hunts is pretty mad, the parts that make it relevant to this post, is that during their attempt to corner the market, literally everyone and their grandma started selling all their silver as the price was mooning, and unfortunately for the Hunts, they were actually winning and then the government changed the law basically banning the purchases of silver, this killed the market overnight and I'll let you find out what happened next

Ok you could argue that in Bitcoin’s case, the government can't ban Bitcoin like they could with custodied precious metalsOk you could argue that in Bitcoin’s case, the government can't ban Bitcoin like they could with custodied precious metals

But I can see what Strategy are trying to do and it's very clever but also very risky

To buy in to the Strategy narrative you have really, to have a ngu mindset, a fiat mindset, i wrote a post a while back saying that i was being slowly Saylorized, and he's very entertaining but the difference is that not everyone buys Bitcoin for ngu, some want to store their time and energy in this network, some people would have their money confiscated where they come from and a plethora of other reasons to buy Bitcoin

Some people dare I say it buy Bitcoin and don't care about the price because what are they going to sell it for? Dollars?

Ok maybe silver 🤣🤣