Oddbean

MSTR is just exposing the money that is stuck in Tradfi. It will never leave or be transferred to the BTC ecosystem. It's permanently stuck there; at best you will have bitcoin proxies in the Tradfi system but never bitcoin. The only way the wealth gets transmuted into bitcoin is if the underlying currency gets backed by bitcoin. 20% cap gains and withdrawal penalties if you move it before 65. Unchained is an option. This is a game of getting capital out of the system (very hard to do). Best bet is a 401k loan. The numbers in your brokerage account are fake. The MSTR crowd still does not understand absolute scarcity.

Not everyone wants or needs to exit tradfi. Bitcoin is mot equity. People also want equities. Everyone is in bitcoin for different reasons. There will always be people that want to bet on companies (invest) to get a return. MSTR has done that in bitcoin terms. People sell stocks every day and buy home, cars, vacations, etc. Pretending the US is iran or somalia is delusional.

Idk what to tell you, bro. If you don’t think people are actively selling securities and buying Bitcoin with the proceeds as I have done many times, then there is no point in continuing this conversation.

That has never been my argument lol. I'm telling you it's prohibitively difficult to get your money out of the system and because of that people are forced into buying ibit mstr etc. in fact most retirement accounts will not even allow access to those products. Most advisors will be de-facto forced to buy those products in order to keep up with the street. A brokerage account, 401k, Roth, IRA are all different products and most of that money will never exit the system. It's permanently stuck. Your cash brokerage account has no problem moving money that represents like .01% of all assets in the system.