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It's kinda mind boggling. Saylor will pay you a premium to give him money so he can buy Bitcoin. And everybody believes Bitcoin price will go up enough to cover it.

But the same people are not willing to just buy and hold the Bitcoin themselves.

isn't it the fiat people who don't believe enough in Bitcoin, but are willing to risk their fiat for 11.5% yield?

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Yes, I just fins it odd that in order for them to believe saylor will pay them, they have to count on Bitcoin going up, but they are simultaneously unwilling to buy Bitcoin directly. I guess they figure they will get out early if they are wrong.

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yeah i agree with that, the brutal irony will be when there is a crisis event, strategy bros will be requesting withdrawals and we all know what happens in those scenarios

We saw it recently with the gold and silver pump recently, there were queues of certificate holders standing in the rain asking for permission to have their dollars back

All the while in a crisis or not, you're free to send and recieve your Bitcoin at will

As long as the normies are fixated on the fiat ngu they'll struggle to make the connection

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Depending on a bunch of factors, such as strategy's leverage ratio and strc dividend rate, they wouldn't even need to get out early, in fact they would never need to get out at all. At 11% its taking less than a decade to get all your (fiat) money back. Last time I checked strategy had somthing like 40-50 years of dividend payments worth of bitcoin(probably getting lower given the amount of strc they are issuing), assuming bitcoin traded sideways for 40-50 years. While that would annihilate MSTR common, a strc holder theoreticaly doesnt care about the common(unless they are also holding that). From a fiat persons perspective that may not be a bad deal. From Saylor's perspective he's getting uncolatoralized leverage at normal margin prices. Obviously I dont touch strc with a 9 ft pole, because like saylor, i'd rather hold the bitcoin.

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Yeah i was just listening to James Lavish on a pod and he coined this phrase that sounds pretty catchy and i'm not sure this is right but he said 'Bitcoin only has to go up 11.5% year on year to be able to pay its divvy', assuming that has links to Bitcoin's CAGR and the NAV, but thats a handy way to think of it

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