MicroStrategy Plans To Raise $400M In Debt And Use It To Pile Up More Bitcoin - Michael Saylor, CEO of Micro-Strategy has been on fire lately. He has been responsible for the purchase of over 40,000 bitcoins alone; today, he revealed he isn't stopping. To put things into perspective, the current issuance rate for Bitcoin (new coins into the supply) is currently set at 900 per day worldwide - In 3.5 years this will halve again. Micro-strategy is tiny in the grand scheme of things. There is a massive supply shortage. I would say big money is currently on the sidelines, quietly observing. As Bitcoin climbs over $20k USD, more companies will feel this level of FOMO. It's all about what percentage of the supply you can obtain - a game of accumulation. When Bitcoin swallows fiat, expect Michael Saylor to be a very powerful & wealthy individual. At this rate, he will easily surpass Bezos & Musk. The crazy thing is, obtaining just 1 Bitcoin today, will most likely make you very wealthy in the future. Even 0.1 BTC could change your life.
I make the following rant to everyone who asks me about Bitcoin, as I believe it's the simplest & most bullish: There are 18.5m coins currently mined; 2.5 left to be mined over 120 years. ~5-6m are presumably lost. ~10-11m coins in strong hands & will likely never sell. That means there's maximum ~2m coins available on the open market. How many for sale under 20k? 30k? 100k USD? Will people hold longer, when they realize what's unfolding in the economy? There's a lot of factors at play; none of them cause Bitcoin to become more abundant. There's a lot of people in the world & very few Bitcoin.
Saylor could see his company was at risk of losing 20-25% value per year on their cash reserves, due to monetary expansion (money printing). This would mean they'd need to return this in profit just to break even. He could see the treadmill was only going to get faster as the economy collapses into itself. He looked into every asset class; all their pros & cons. Bitcoin continued to come out on top. It is clear to me (& money others) that it is the best money available in the world today. History shows that people have always chosen the hardest form of money. The last 100 years were supposed to be based on gold. However power corrupts. A small group of people found a loophole & exploited it. Debasing a currency is extremely deceptive because the number stays the same.
As a little kid I was always told about the 'cost of living' - I always tried to decipher it & could never figure it out. It is now clearer than the light of day. We were all told inflation is necessary to healthy economy - no it's theft to pay for the things your tax won't. Inflation is just one of the many forms of money creation. One of them being Debt; is leveraged by the rich to generate more money, but even they are starting to get stung by it. Many will get caught out. The largest wealth transfer in history will soon play out. It is the scariest & most exciting time to be alive; so many mixed emotions.
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