Oddbean new post about login | logout Who knew that in order to create a $50B business you don't need to have any good product. You just issue shares and debt to buy Bitcoin and everybody will give you their money. Silly me.
Book value.
That is the thing .. a believer is more than God himself :-) when you buy #bitcoin - you invest in #nostr .. #amethyst .. #damus .. #lighning .. #cashu .. #liquid ..and every single developer in this space .. and creatives .. and users #blockchain is just a ledger of long strings - the value exists all around it .. nostr:nevent1qvzqqqqqqypzq3svyhng9ld8sv44950j957j9vchdktj7cxumsep9mvvjthc2pjuqqsy8u7257kj74aqurxnp3x83l0aatg0l2pkx79fpl6znldwmx26j6guh09m6
You just described how most corporations are run. Borrow money, expand, borrow money expand.
No, regular companies borrow money to build products that take over markets whose profits push the evaluation higher. That's not what Microstrategy is doing. They are just holding. There is not risk to the company.
That's what I've been trying to tell people. Like governments, companies that spend more than they produce in real value ngmi. Might take along time if they don't get rugged, but eventually it will come.
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They are doing the same as the rest of us, riding the bitcoin monetization wave. They are just taking advantage of access to cheap capital. Your problem is with the entities that buy MSTR debt and equity.
NGU cultists are useful idiots led by Saylor https://image.nostr.build/9ea6da4f3c3dc993e2e3c4481ad8c6671867667e2e265c147dc2e3a981cff037.jpg nostr:nevent1qqsy8u7257kj74aqurxnp3x83l0aatg0l2pkx79fpl6znldwmx26j6gpzdmhxue69uhhwmm59e6hg7r09ehkuef0qgsyvrp9u6p0mfur9dfdru3d853tx9mdjuhkphxuxgfwmryja7zsvhqrqsqqqqqpjqt9wl
