I believe @saifedean is correct. If BTC becomes universal money and grows 2-3% a year in an economy, I would be comfortable loaning money at 0% nominal interest. I might even loan it at -1% interest (partial forgiveness) since the value returned will be greater in both cases.
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In a few months profits will temporarily flow out of TradFi (cool off phase after IPOs).
People will want to know where to put their money because everything already went up so much.
And there Bitcoin will be, ready to begin the next four year cycle.
@udiWertheimer saylor is so unhinged he would probably find a way to long the burn address, call it digital real estate in a black hole, and issue another $2B in convertible notes to buy the dip
People are overthinking the 32 BTC sale.
“Why sell?”
“Why not just buy less next week?”
“Is this bearish?”
Michael @saylor already explained the logic:
• If Bitcoin can’t be sold, critics say it has no value.
• If it has no value, the balance sheet value is zero.
• If the balance sheet value is zero, credit rating agencies ignore it.
• So you sell a tiny appreciated portion to prove Bitcoin is liquid, valuable, and real.
Today, I signed an Executive Order temporarily repealing bedtimes in the City of New York so that kids of all ages can watch our team in the NBA Finals.
As Mayor, you’re forced to make many difficult decisions. This was not one of them.
Go Knicks.