The Creation of Bitcoin Oligarchs: MicroStrategy to sell $1 billion in shares to add to its bitcoin holdings – June 15, 2021,
So Michael Saylor continues to follow his passion which on many fronts, can come across as Saylor attempting to rip off his shareholders. I assume that Michael J. Saylor assumes that the price of Bitcoin is coming down and he’s positioning himself to profit from it sing other peoples money, or maybe he’s going to possibly use other people’s money to purchase Bitcoin at an inflated price? I’m not entirely sure, but these public statements go against what most of us know about investing.
Currently, Bitcoin is sitting at around $40,000 per Bitcoin, some have Bitcoin going to $200,000 others have it dropping to $10,000, I personally have concluded that Bitcoins price coincides with Federal Reserve Liquidity along with the U.S Federal Governments spending.
I personally suspect some sort of stimulus is coming in the United States I personally think if this happens the price of Bitcoin should RIGHTFULLY appreciate in fiat dollars. Where I think the price correction of Bitcoin occurs is when the stimulus doesn’t work and the U.S economy begins deflating again.
Because most people don’t count debt into their fiat money printing equation, it’s hard for most people to imagine that there isn’t enough money in circulation to prevent a DEFLATIONARY crash. Now, in a world in which Austerity is a possibility it would be obvious that this money printing isn’t sustainable, the problem is that there exists the Euro-dollar system, meaning that the U.S economy could be in shambles and the value of the U.S dollar in the DECENTRALIZED forex markets might actually increase in value.
What I’m saying here is that the separation of private debt and public debt shouldn’t be conflated if the U.S government plans to pay for its spending by destroying its own economy. Fiat asset price inflation with a Euro-dollar system could serve better than traditional cash flow if the debasement of the dollar accelerates worldwide.
In most countries where their currency is worthless, asset prices go up. The definition of an asset will actually expand the more worthless a fiat currency gets, like water as an example might turn into an asset as currencies become more worthless.
I’ve made the argument before why I prefer fiat money over a Gold Standard and my theory revolves around democracy.
Make no mistake about it, cryptocurrencies are in competition with the U.S dollar and there are some that theorize that their creation was designed to circumvent U.S SANCTIONS
Any moron can vote for a politician to steal for them, currently, the United States has a President whose first language is English, but yet President Joe Biden struggles to complete a sentence. Now, I’ve heard many people claim that Joe Biden’s best years are behind him? Well, Joe Bidens’ best years were plagued with plagiarism, which would explain why in his old age he struggles to complete a sentence. I’ve met a lot of people who are parrots and do not think for themselves and they usually don’t age well, even if they’re wealthy financially.
When these low IQ people are challenged, they resort back to what they know and as you’ll notice, there are particular instances in which Joe Biden is alert and other periods in which he is a deer in the headlights I say this because Michael Saylor reminds me of Joe Biden in that appears to be a parrot.
It may appear that the attention Michael Saylor is getting is going to his head, but I don’t think Michael Saylor is that dumb, in my opinion, Micheal Saylor is almost acting like a Government, I’m not sure why he feels the need to make all of these elaborate announcements and why he doesn’t want to put his own personal wealth on the line? In my opinion, what he’s doing is reckless and, he’s bringing unnecessary attention to himself.
But on the other hand, there is a possibility that a Bitcoin oligarchy has already been formed and Michael Saylor is merely the frontman. I used the term oligarchy in this post because most people attach oligarchs to Russian oligarchs
Where’s the hot spot for Bitcoins to be mined? Are people aware of the Russian-German ENERGY deal that Joe Biden gave his stamp of approval to? All of this stuff seems very strange to me. By the way, to all you environmental Socialists Russia is not currently classified as a developed country… Anyway, maybe this nothing and Michael Saylor just loves the attention and believes wholeheartedly in Bitcoin.
Just so my positions clear on this, in my opinion, Bitcoin has no value without the U.S dollar. I comprehend the whole ledger argument, but in ancient times in which slavery existed, money was always the most convenient form of bartering and the marketplace has always been about supply and demand.
Even Gold struggled to be money, because if it was out of reach for you and you weren’t allowed or skillful enough to transact/barter in Gold, it had no tradable value to you. This concept of “perfect money” is ridiculous, in the modern world we’re bound by legal tender laws and if these laws didn’t exist, it’s unlikely people would turn to Bitcoin or cryptocurrencies to do trade.
As many are finding out, Bitcoin makes it easier for you to be tracked and traced. With that established any investment you make, make sure you understand the risks involved! Eevn if the price of Bitcoin rises do not think there aren’t any risks involved.
Interesting times ahead!