[Newlaptop]

I've been surprised that the news that Strategy (formerly Microstrategy) bought 3x the total amount of mined bitcoin in the past year didn't cause bigger waves.

A single corporation is issuing debt at 11% interest to buy all the bitcoin being produced and a huge chunk of the additional sales. That's such an obviously precarious situation that I figured the news would cause a crash as people tried to get out of bitcoin before Strategy has to start liquidating, but it looks like there's still some runway left.

[chistev]

Are they still buying?

[swarnie]

Still buying, currently 12.5 billys underwater.

If they sold today it would be comparable to the largest banking losses from the 2008 kerfuffle

[DANmode]

The broader market still sees it as a speculative investment.

&

This is a recession period.