exist270 on Nostr: Not even close. That's the whole Strategy play. Saylor knows the stock is approx 3x ...
Not even close. That's the whole Strategy play. Saylor knows the stock is approx 3x overvalued, so he's essentially selling $1 at a cost of $3 to entities who can't legally just buy #Bitcoin for various regulatory reasons. 💁♂️
There is no peg; what DOES exist is a performance correlation because Strategy holds so much #BTC on their balance sheet that their performance closely mirrors the price (because it's essentially all they own).
Bitcoin will never be pegged TO anything since it's the first free market & will always trade at whatever people attribute it's realtime value to be, but other things CAN possibly choose to be pegged to IT; HUGE difference in there.
Your thinking is backwards. Bitcoin is not the thing being measured/repriced; Bitcoin is the based ruler that measures/reprices everything else.🤙
There is no peg; what DOES exist is a performance correlation because Strategy holds so much #BTC on their balance sheet that their performance closely mirrors the price (because it's essentially all they own).
Bitcoin will never be pegged TO anything since it's the first free market & will always trade at whatever people attribute it's realtime value to be, but other things CAN possibly choose to be pegged to IT; HUGE difference in there.
Your thinking is backwards. Bitcoin is not the thing being measured/repriced; Bitcoin is the based ruler that measures/reprices everything else.🤙