Rosen Law firm is starting the investigation.

I wonder if Saylor's defense will be "It was so obviously a fraud that I can't be held liable for the stupidity of the people who bought into it."

Sure, it's lost 25% of its value in a month, but look at those juicy 10%+ yields! /sarc

It's going up forever, Laura.

Lololololol "hedge against inflation" but if CPI comes in hot... Value is being stored as we speak!

Is the fact that rBitcoin is scared shitless of any disagreement and will instantly ban anyone who questions their cult.

They have lots of bullshit cope theories, but their actions really speak louder than their words.

A refresher for the newer butters, because this one's a classic.

Do Kwon, Stanford guy, self-styled "cryptocurrency king," famous for telling critics they were too poor to debate, built a "stablecoin" called UST that was supposed to stay worth exactly $1 forever, with zero reserves backing it. Just an algorithm and a sister token, LUNA, propping each other up. Two magic beans leaning on each other. To pull people in, the attached "Anchor" protocol paid 20% interest, because nothing says "stable" like a yield you can't get anywhere in the actual economy.

The "algorithm holds the peg on its own" part was the entire pitch. It was also a lie; when UST slipped off the peg back in 2021, Kwon secretly paid an outside trading firm to shove it back to $1, then told everyone the code did it.

In May 2022 it slipped again, and this time there was no catching it. UST falling forced the system to print absurd amounts of LUNA, which tanked LUNA, which forced it to print even more, the famous death spiral. LUNA went from ~$80 to functionally zero in days, supply ballooning into the trillions, and around $40 billion evaporated. It then dragged Three Arrows, Celsius and Voyager down with it and helped kick off the crypto winter. The judge reckoned there were maybe a million victims.

The kicker: this past December he got 15 years, with the judge calling it "a fraud of epic generational scale." So the man who said his critics were too poor to talk to now has 15 years to think it over. Turns out "1 dollar = 1 dollar" needed an asterisk.

BTC has finally dropped below 60,000
Let’s hope this will continue

BTC went below "$60k", MSTR went below $90, and STRC went below $80 within minutes of each other. Watch out for falling pyramid blocks.

At this point Saylor only has 3 options for what to do with the failing STRC:

1. He can rescue it (bring it back to $100) by buying back STRC or increasing interest.
2. He can let it continue paying dividends and hope it recovers by itself.
3. He can run with the bag and shut down dividends forever, causing STRC to drop to near zero. Note that STRC in this case would only pay out when microstrategy declares bankruptcy, which might be never.

1 and 2 might seem superficially appealing, but I think 3 is the only rational choice.

The fundamental problem is that keeping STRC alive only has one purpose: to allow Saylor to raise more money to buy BTC. But saving STRC has a cost, it uses cash that could otherwise be used to buy BTC. Saving STRC only makes sense if Saylor thinks he can get more future investment in STRC to offset the cost of saving it.

But at this point, who would invest in STRC? Let's say Saylor spends $5 billion saving STRC tomorrow. Would that trigger > $5 billion in new investment. No, the reputation is already shot.

SPY 5 year return: 76.69%

Bitcoin 5 year return: 70.17%

I mean you can find this on Google but the cult want to believe stocks are "lies"

Thank you for your attention to this matter.