they're doing the #MicroStrategy thing for #TrumpCoin now
(and apparently to bribe trump to lift some #tariffs, or something... details unclear)
> "An international trucking logistics firm is buying as much as $20 million worth of President Donald Trump’s crypto coins to influence the administration’s trade policy"
https://www.huffpost.com/entry/trump-coins-freight-influence_n_68153967e4b03d516aad99d3
soon the entire american economy is just going to be #MicroStrategy style pyramid schemes for FartCoin.
Excellent explanation of Howard Lutnick's kids' new "bitcoin acquisition SPAC" partnership with #Softbank and #Tether headed up by #JackMallers AKA "the crypto bro who cried on stage about El Salvador's bright new bitcoin future."
The venture is basically just another version of the #Microstrategy pyramid scheme, brought to you by the children of Trump's cabinet members.
https://x.com/OccamiCrypto/status/1915069879532806583
p.s. the CFO of this new venture was formerly head of UBS #Russia.
2/ In other "crypto scammers visiting El Salvador to immanentize bitcoin fascism" news, #MicroStrategy CEO Michael Saylor, the man who owns more bitcoin than anyone (much of it bought with borrowed money in what will probably turn out to be history's largest pyramid scheme) flew to San Salvador to visit Bukele on February 13th.
Good overview of the insanity that is #MichaelSaylor's "buy billions of dollars worth of bitcoin with borrowed money" approach to financial engineering.
> "If #MicroStrategy's strategy is so brilliant, why isn't every company doing it? Should Apple stop making iPhones and just convert its cash to Bitcoin? Should Coca-Cola abandon soda production and become a Bitcoin holding company?"
https://basedtoschi.substack.com/p/inside-microstrategys-bitcoin-pyramid
yet another company - this one with Trump's kids on the board - tries the #MicroStrategy approach to crypto ponzi scheming. cc: @wendysiegelman
#GameStop will be “investing” some of the $4.6 billion cash pile it accumulated by dumping #GME shares on retail apes (who are tbh significantly dumber than crypto bros, which is impressive) into bitcoin.
This follows #MichaelSaylor of #MicroStrategy's entreaties to the company a few weeks ago, because pretty clearly Saylor’s #MSTR / #STRK / #STRF ponzi scheme is running out of steam and he desperately needs other people’s money to prop up the scam.
https://www.coindesk.com/markets/2025/03/25/gamestop-to-add-bitcoin-to-balance-sheet
FT Alphaville weighs in on #MicroStrategy's bizarre new "strife" (#STRF) bitcoin accumulation strategy.
> "#MichaelSaylor has pitched it as a way to tap into the vast pool of fixed-income investors who generally prefer stability and predictable returns. Yet Strife offers neither. It exposes investors to bitcoin’s downside (since Strategy’s creditworthiness hinges on its crypto holdings) without giving them any upside if the cryptocurrency soars. The dividend is fixed, so if bitcoin 'moons', Strife holders are left watching from the sidelines. It’s like being invited to an all-you-can-eat buffet but only allowed to smell the food."
> "Buried in the fine print of the prospectus is a crucial detail: the board can suspend dividends altogether. It’s essentially a 'trust me' deal."
https://www.ft.com/content/20984de7-4a63-4919-979f-04245de33592
#Metaplanet, the Japanese company that recently started using the same "borrow as much money as you can to buy bitcoin with debt" approach as #MicroStrategy, has named #EricTrump as the first member of its "Strategic Board of Advisors".
I suspect this increases the odds that the crypto industry will get a bail out if SHTF, though they were already pretty high.
One week ago #MicroStrategy (#MSTR, the world's largest pot of bitcoins masquerading as a publicly traded company) announced they were raising $21 billion (1/3rd of the entire company) via a new "perpetual strike preferred stock" called #STRK to raise cash to pump the price of bitcoin.
Today now suddenly they are announcing they will raise money via yet *another* financial instrument "strife" (#STRF) to pump the price of bitcoin.
absolutely wild. bitcoin cannot be "digital gold" if its price depends on the solvency of a single company (which it now does)
* STRK announcement: https://www.strategy.com/press/strategy-announces-21-billion-strk-at-the-market-program_03-10-2025
* STRF announcement: https://www.strategy.com/press/strategy-announces-proposed-strf-preferred-stock-offering_03-18-2025
#MicroStrategy's “bitcoin strategy” is going fully pyramidal. The company has spent $33 billion on bitcoins now “worth” roughly $41 billion over the past 5 years (at least $7-8 billion of those bought with borrowed money). Now #MichaelSaylor just announced a $21 billion sale of their special new #STRK perpetual strike “stock” (different from the regular stock, which is #MSTR) to buy even more bitcoin. Note that the market cap of MicroStrategy is ~$60 billion, so that's a sale of 1/3rd (sort of - STRK isn't exactly a share of stock).
Paraphrasing Dan Davies
here, something along the lines of “the nature of fraud is to expand until stopped by an external force”…
checking in on #MichaelSaylor now that bitcoin is below $80k and he bought ~$20 billion worth for $95-105k with borrowed money in the past two months:
https://x.com/saylor/status/1895325810942411234
the meeting logs of #DavidSacks and #a16z's "Crypto Task Force" that is I guess now running american financial regulation via the #SEC contain many incredible things, but only a single meeting with anyone trying to advocate for the public interest (#BetterMarkets, who deserve a lot of credit for trying).
* SEC page: https://www.sec.gov/about/crypto-task-force/crypto-task-force-meeting-logs
* archived meeting notes: https://legacy.www.documentcloud.org/app?q=%2Btag%3A%22crypto%20task%20force%22
tfw ur lookin' around for suckers who have enough capital to pump the price of bitcoin now that #MicroStrategy is looking increasingly tapped out…
