the "borrow money to buy bitcoin" industry summarized in one image:
https://x.com/DzambhalaHODL/status/1940916889880088915

“what if we borrow billions of dollars, but this time instead of buying #bitcoin, we buy #ethereum?”

https://www.cnbc.com/2025/06/30/wall-street-strategist-tom-lee-is-aiming-to-create-the-microstrategy-of-ethereum.html

#MicroStrategy borrowed another billion dollars to pump #bitcoin, mostly with their new funny money stock tickers #STRK, #STRF, and #STRD (they're multiplying like rabbits).

yet another #MicroStrategy mini-me company.

the “borrow money to buy bitcoin” industry is rapidly multiplying like a swarm of locusts (#Trump announced he was turning #TruthSocial into this kind of company just last week, but there have been many others).
https://x.com/TimKotzman/status/1929379202505027967

#Metaplanet, Japan's mini-me version of the pot of bitcoins bought with borrowed money called #MicroStrategy, is taking out billboard advertisements for its stock... in America (or maybe its fans are, not 100% sure, but does it really matter?).

Remember, this is a Japanese company that now exists for no other reason than to borrow money and use it to buy #bitcoin.

it would be hard to think of a more obvious example of #malinvestment than a bunch of companies rushing to turn themselves into vehicles to use borrowed money to buy bitcoin a la #MicroStrategy.

just in the past few weeks we've seen #HowardLutnick's sons launch one of these things with #Tether, MicroStrategy continuing to borrow and buy billions, #Metaplanet and Semler Scientific getting in on the action in a smaller way, this new David Bailey grift, and just yesterday the CEO of #Strive launched a plan to raid profitable companies with free cash and use their cash to buy bitcoin: https://x.com/thomas_fahrer/status/1920274883856249046

(we've even seen a logistics company announcing plans to borrow money to buy #TRUMP memecoins!)
https://www.theinformation.com/articles/david-bailey-advised-trump-crypto-plans-bitcoin-investing-firm

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.

https://www.theblock.co/post/352062/defi-development-company-the-mstr-of-solana-files-1-billion-shelf-offering-with-sec

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.

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

https://www.coindesk.com/business/2025/03/28/a-public-company-boasting-trump-s-sons-on-advisory-board-is-buying-blackrock-bitcoin-etfs

#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 holder of bitcoin) 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”…

#MicroStrategy just bought another $2 billion worth of bitcoin with convertible debt. The price of bitcoin still managed to go down 2% as soon as he announced the purchase.
https://www.coindesk.com/markets/2025/02/24/strategy-adds-20-4k-bitcoin-bringing-stack-to-499k-tokens