MSTR stock is a product.

That's what Saylor has created over the past few years.

He is selling a product, and therefore generating income.

No different to selling, say, Pokemon cards. The product is desired and valued by customers regardless of "dillution", etc.

Yes, he endlessly mints the tokens. But he also endlessly buys BTC with those tokens. In a such a way he cannot simply run off into the sunset with that BTC. Nor does he use highly leveraged techniques, nor does he attempt to time the market.

And he is the biggest shareholder of those tokens, which represent his lifetimes work and reputation.

He promotes transparency of communication, and being a cheerful and constructive soverign individual. His credentials, before even entering the 'crypto' space, include being a tech visionary, who gifted university level courses for free.

But sure, he wears a suit...

Hey i'm a btc maxi but this is poor framing.

Govts and mafias exist to take stuff by force. Things they commonly take include land and freedoms.

Bit of a stretch to suggest self custodying BTC fixes such things.

Speaking with brevity asserts authority.

A 1 kilo bar of .9999 silver may fetch spot from a large bullion dealer, as this is exactly the stuff which industry buys (they deal with anything smaller).

However, a mom and pop bullion store are going to have fewer potential retail customers for a large bar - they'd prefer to deal in 1 oz .9999 coins, and so offer a premium on those.

To complicate matters further, many stackers have silver which is .800 purity, which requires costly refining - and those refineries are backlogged. Hence those real 'low ball' offers are kinda justified.

Anyway, Bitcoin fixes this.

Your analogy doesn't work.

In percentage terms, atmospheric CO2 has increased ~0.014% since the pre-industrial age.

The soil being 0.014% more or less hydrated each year would make zero difference to the plant.

I only ever watch the first season of a 'continuity driven' TV show for this very reason.

A lesson learnt after thinking the first season of '24' was the best TV show I'd ever seen, and yet season 2 episode 1 was just an insultingly lazy setup.

(After all the twists and cliffhangers of the first season, S2 E1 kicks off with the kidnap of our heroic protangonists daughter. Yawn).

Episodic / standalone adventure stuff is still great though e.g. The Mandalorian)

GM

Presumably, during big and sudden price drops, people withdrawl Bitcoin from exchanges and into cold storage. Hence the on chain activity.

And vice versa. As the bull market starts heating up, people have confidence to move some BTC back on to exchanges, just in case a gamma squeezed pi cycle top God candle appears.

Saylor talked me into being a fiat dividend maxi during the past 6 months.

Difficult to be laser focused on MSTR now.

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What's the next best crypto asset? There is no second best crypto asset.¹


¹ 2025 addendum:
There is no second best crypto asset, except for the newly listed 1,000 digital asset treasury companies.