Irony is dead: Strategy says they are Bitcoin's "Central Bank"

[legiteum]

Strategy CEO Says Firm Is Bitcoin’s ‘Central Bank,’ Holds $4.75 Billion in Cash

https://en.bloomingbit.io/feed/news/118074

 

[Ambatman]

I guess Strategy brain cells are getting fewer or he has forgotten what a Central Bank is
They can become the Central Bank for STRC but for a decentralized asset? That's just delusional.
Not even the government call themselves the Central Bank of Gold even when they hold it as a reserve.

Edit it's even phong, why am I not even surprised.

[Free Market Capitalist]

This is just in case it wasn’t clear that, no matter how much Saylor praises Satoshi, what that company—with Saylor working side by side with Phong Le—is doing is turning Bitcoin into a fiat system. They buy a lot of Bitcoin, hold it in custody at centralized entities like Coinbase and Fidelity Custody, and from there, print away as if there were no tomorrow. The ups and downs of the STRC dividend are quite similar to what happens when the Fed announces its interest rate policy.

I’ve already written about this.

Saylor has created a fiat system on top of Bitcoin

I guess Strategy brain cells are getting fewer...

That's what happens when you have a bunch of Sailormooners cheering every piece of nonsense you come up with.

They can become the Central Bank for STRC but for a decentralized asset? That's just delusional.

No, it's not delusional, it's what they are doing. Centralizing Bitcoin, reducing the Bitcoin available to P2P, and print a lot of paper assets that are non redeemable for Bitcoin.

[Ambatman]

No, it's not delusional, it's what they are doing. Centralizing Bitcoin, reducing the Bitcoin available to P2P, and print a lot of paper assets that are non redeemable for Bitcoin.

At its core Bitcoin still remains decentralized
Whatever they sharing or creating would never be Bitcoin just a bunch of fancy tokens.
They can never create or issue new Bitcoin
They can't impose new policy no matter the amount of Bitcoin they own.
Like you already stated they can be the Central Bank for the assets they issue
But I still believe it's wishful thinking for them to become Central Bank of Bitcoin itself
Even if they eventually own 10% of Bitcoin total supply.
Central Banks and Bitcoin are just contradictory words to use.

[Livingleged]

I don’t get it, bitcoin central bank?
-Are dey planning to take control of over the blockchain?
-Did they forget that it’s self custody?
- hope they are also planning to buy every bitcoin that are in the hands of individuals.
- this must be the normal joke of the day from someone who’s just holding about just 4% of bitcoin’s total supply.
Satoshi that spreads 1million bitcoin across different wallets untouched has thought about time like this since from the inception.

[knowngunman]

I don’t get it, bitcoin central bank?
-Are dey planning to take control of over the blockchain?
-Did they forget that it’s self custody?
- hope they are also planning to buy every bitcoin that are in the hands of individuals.
- this must be the normal joke of the day from someone who’s just holding about just 4% of bitcoin’s total supply.
Satoshi that spreads 1million bitcoin across different wallets untouched has thought about time like this since from the inception.

Whatever nonsense they're spewing, it's their business but it's a win for bitcoin community because we are bullish if they're considering to buy with pressure.

Obviously they can not take control of the blockchain even if they increase their percentage and it's not even possible to buy every bitcoin available. Even if they are able to increase it, they won't turn bitcoin central bank just by holding more coins. I'm enjoying the show by the way.

You know the funny part, they can only buy from what is available. So isn't it ridiculous that a self acclaimed central bank can not print more coins 

[Slow death]

Strategy CEO Says Firm Is Bitcoin’s ‘Central Bank,’ Holds $4.75 Billion in Cash

https://en.bloomingbit.io/feed/news/118074

 

From what I read in that article, he's saying that instead of just having bitcoins, they are evolving into a digital finance platform that could act as a central bank for the market. Of course, with only 4% of the maximum bitcoin supply they possess, which is around 840,000 BTC, it makes no sense to say they would be a central bank for bitcoin. The moment they sell, there will always be someone to buy. When they say they're going to sell everything, the worst that could happen is the price will fall, but then it will recover. When they say they're going to sell a lot again, the price won't fall because the market always adapts to crises.

I also noticed that the number of bitcoins they have is decreasing:

Strategy sold 1,690 Bitcoin to repurchase STRC shares as its US dollar reserve rose to $4.65 billion and its Bitcoin holdings fell to 840,447 BTC.

source: https://cointelegraph.com/markets/strategy-sells-1690-btc-buy-back-108-6-million-strc

Eventually, the number of bitcoins they possess will be much smaller. As the market grows significantly, it will become less volatile; those large 5x increases we were used to seeing are being reduced, and there will come times when even 3x increases will be difficult to see, and these guys will sell as soon as they notice this.

[Ambatman]

with only 4% of the maximum bitcoin supply they possess, which is around 840,000 BTC, it makes no sense to say they would be a central bank for bitcoin.

Even with 10% they still won't be central bank
The term don't work well with Bitcoin.

Eventually, the number of bitcoins they possess will be much smaller. As the market grows significantly,

Not a guarantee
Historically bull market has been longer than bear market and if same Persist
They can add more than they would sell.

when even 3x increases will be difficult to see, and these guys will sell as soon as they notice this.

They would create their own leverage with a created token or asset like STRC
Bitcoin doesn't have to go times 2 for they to benefit
It just have to be net positive as the years goes by and they good.

[stompix]

This is just in case it wasn’t clear that, no matter how much Saylor praises Satoshi, what that company—with Saylor working side by side with Phong Le—is doing is turning Bitcoin into a fiat system. 

As much as I dislike Saylor, this is not what they are doing or planning on doing.
They are trying to build a fiat system on top of Bitcoin just as fiat was built on top of gold, and they are not even the first doing so, we had people Do Con Kwon before.

Fortunately enough, whatever they say is just words, the not-so-funny part is that they feed Lukejr propaganda!

[Doan9269]

Is he boasting on this to intimidate others or trying to get more recognition than ever before, and it may be that he's trying to use this as a way of influencing the market as well to cause a reaction that will be trending? Microstrategy is so used to making declarations that always attract public attention; many giant holders don't fancy this kind of behavior, but I want to believe there should be a reason why he is acting in such a manner, which is best known to him, but at least we can still print out the fact that they are one of the strong Bitcoin holders.

[Ishicryptic]

Strategy CEO Says Firm Is Bitcoin’s ‘Central Bank,’ Holds $4.75 Billion in Cash

https://en.bloomingbit.io/feed/news/118074

 

Incase Saylor is not knowledgeable or has forgotten that Bitcoin is decentralized and he can only lay ownership to the amount that he has in his none custodial wallet he shouldn't come out publicly to ridicule Bitcoin, he cannot even lay a total claim to any of his Bitcoin that is in the custody of a third party. He has to hold up to 90% of Bitcoin to call himself the majority centralized holder of Bitcoin but clearly that status cannot be achieved by only one single entity because of the massive adoption of Bitcoin, I guess he can call Strategy the central bank of Bitcoin to make himself to feel good. Every Bitcoin holder has the right and freedom to keep their Bitcoin in a centralized platform but even in the custody of a platform Bitcoin is still what it is a decentralized digital currency (asset) with a limited supply.

[Odohu]

I don't know why I find this post funny too. Such a big talk from a company whose Bitcoin purchases rarely move the market. Maybe the respect people give to him for his confidence in Bitcoin which made him continued to buy even when other people are expressing fears is getting into his head. MicrosoftStrategy does .ot babe the power to become Bitcoin central bank, it is just a wishful thinking.

[macson]

Well, they can call themselves whatever they want. Whether it's the "Bitcoin central bank" or "Bitcoin's Fed" that's up to them. But Bitcoin is still Bitcoin --- even if they increase their Bitcoin holdings over the long term, the fact remains that they are investors. They will not be able to act as a central bank for Bitcoin, and they never will one. So they can just dream about it.

[red4slash]

Well he began to delude with his own thoughts even though for the beginning when he became a maximalist I liked it but for now it seems that MSTR is not to be expected and may not be helped anymore by a strange buzz.

From the beginning we know that bitcoin has a decentralized and to say they are (MSTR) a bank just because they have a fair amount of bitcoin in their company would be foolish and a funny thought.  Why do they always delude themselves by saying maximalist while millions of shares they create when menggompleng the name "maximalist"?.

Now it is increasingly clear that at the moment they are just trying to create their own system in the name of bitcoin so that others will be deceived by it.

[Richbased]

Central Bank of bitcoin? mentioning bank is even ridiculous because this is not some paper money that you can keep in your custody, bitcoin is a digital currency that works with the Blockchain technology. Even if Strategy wants to declare themselves as Bitcoin's central Bank, they will need to wait till the last bitcoins are mined so that we will know that whenever we want to buy bitcoin we will meet them to sell to us.

They should understand that bitcoin is not programmed in a way that anyone can become its central authority. It is decentralised and anyone can buy, sell and transact with it without the involvement of a third party.

[TokenTikas]

Calling themselves a central bank and calling themselves by other names is their personal business but these are nothing but stupidity. They do these things to show off their portfolio and take shares. Nowadays everyone is very aware and everyone knows the reasons for demanding such things.

Bitcoin is completely neutral, so whether they consider it a central bank or whatever they consider it, these things can never be possible, that is sure. Just saying these things and dreaming about them is the end, nothing more than this is possible. Those who know the history of Bitcoin will never pay attention to these kinds of words.

[Sunshine1525]

Because he owns lots of Bitcoin he thinks he's in control, maybe he's just joking cause there's nothing like a central bank for a coin that's decentralized, if Satoshi wanted that for Bitcoin he would've claimed what Strategy is proclaiming but no, Bitcoin would continue to be decentralized and no entity nor individual would control it.

Sometimes when people are bored they'll do anything to seek attention online and that's what Strategy is doing cause they're fully aware that the coin they're referring to is a decentralized digital currency which makes it impossible for them to serve as a central bank despite holding too many of it.

[suzanne5223]

I guess Strategy brain cells are getting fewer or he has forgotten what a Central Bank is
They can become the Central Bank for STRC but for a decentralized asset? That's just delusional.
Not even the government call themselves the Central Bank of Gold even when they hold it as a reserve.

Edit it's even phong, why am I not even surprised.

It is not a delusion if we judge by the extent to which people are praising Strategy, making the CEO feel like they Jesus in Bitcoin, and by the fact that his organisation ETF is the largest Bitcoin holder.
I said it many times when a lot of people were happy about the benefit of the BTC ETF, they ignored the disadvantage that the government and institutions will see the BTC we cherish as their next playground because they never care about it decentralition and the vision Satoshi has for BTC, they only want something they will profit from while they also dominate the market thats why their model of operation for the ETF through tokenization is just like traditional banks.

[Alphakilo]

Central Bank of bitcoin? mentioning bank is even ridiculous because this is not some paper money that you can keep in your custody, bitcoin is a digital currency that works with the Blockchain technology. Even if Strategy wants to declare themselves as Bitcoin's central Bank, they will need to wait till the last bitcoins are mined so that we will know that whenever we want to buy bitcoin we will meet them to sell to us.

They should understand that bitcoin is not programmed in a way that anyone can become its central authority. It is decentralised and anyone can buy, sell and transact with it without the involvement of a third party.

Anyone can say what the think they can do with Bitcoin but that doesn't make it work out the way they think even if they stack enough quantity of Bitcoin. Afterall we have seen whales shake the market with huge sums, yet the market rebounds and survives and adjust to any situation.

Strategy may have the vision of building a financial management system on top of their holdings so far, but if they miscalculate cash flows or leverage, such could impact the global spot order books, but in a temporary sense because what they own is nothing compared to amount of Bitcoin's total cap.

I don't buy the idea or believe that Strategy can become Bitcoin's central bank because that is why Bitcoin exist and it is to eliminate the need of a bank or serve as an alternative to anything traditional banking, based on its consensus rules and monetary policy.

[joniboini]

I don't buy the idea or believe that Strategy can become Bitcoin's central bank because that is why Bitcoin exist and it is to eliminate the need of a bank or serve as an alternative to anything traditional banking, based on its consensus rules and monetary policy.

Well, I guess people can use that term to mean something else in the future. Like, "holding the largest supply of Bitcoin" equals a "central bank". I'm sure as hell people will keep disagreeing especially if they have no power to actually mine blocks or do something else to the network. It doesn't help that some people only read the headline without reading more about it, so it's very easy to label things with incorrect terms.