there is a popular saying that goes something like-- "if you cant spot the idiot, then the idiot may be yourself"
So this is essentially a 7y margin loan “secured” by a highly volatile asset (with a large chunk of MSTR existing assets exempt) and a yield uplift of like 400 bps *at best* over the 3mth fair margin loan rate as measured by futures? What idiot is buying this? https://twitter.com/saylor/status/1402368427952640000 …pic.twitter.com/mzj6MZmonA
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$ICVT indexing folks might be surprisedpic.twitter.com/bOnsiWTFMR
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Lumping shitty debt together in a package and calling it a safe investment. Hmmm where have I seen this before?
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Surely there must be a higher returning way to replicate this risk.
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Charters. Many institutions can't buy Bitcoin. For instance, there are high yield funds who will buy this.
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Lately I’ve stopped asking who’s buying or why. Instead I think of any fathomable advantage this method would have over other innvestments. I can’t think of any here.
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Wait... if the$MSTR debt offering is sr. secured and not mezz... is it eligible to be held by Tether?
@nope_its_lily@AnalystDC pic.twitter.com/dMhYC6ecch -
This would be beautiful. I hope they are
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Ponzi finance at its finest.
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