The Madness of Bitcoin: A Tale of Greed, Fear, and the Human Condition

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In the dim abyss of commerce and ambition, Strategy, that ravenous beast of financial folly, has once again thrust itself into the roaring maw of Bitcoin, snatching up a staggering $50 million worth – a sum that would make even the most hardened soul shake their head. This, dear reader, is their grandest conquest since the dark days of late September, a period so tumultuous it seems lifted from the very nightmares of capitalism itself. 😅

The coins, they say, were acquired at an average of $102,557 – a figure so lofty it borders on the absurd, yet here we are. The company’s average purchase price now hovers at $74,079, as if haunted by the ghost of past investments, whispering, “You paid too much.” Meanwhile, their treasure trove swells to an unimaginable 641,692 BTC, a veritable mountain of digital gold that Realist and Dreamer alike might gaze upon with deep suspicion and perhaps a chuckle.

The Sigh of Skepticism

Yet, amidst this frenzied ascent, voices of doubt grow louder. Critics, clad in robes of skepticism, point out the mounting skepticism following a stock plunge that could make the bravest tremble. Venture capitalist Jason Calacanis, in his infinite wisdom (or folly), suggests the company might slip into eternal darkness, warning investors to keep their distance. Because, why not? 🤡

And what of credit ratings? Ah, yes. Strategy bags a B- from S&P Global Ratings, an achievement that the company parades like a victory, but the Financial Times, with its ever-so-keen insight, calls it a sign of its desperate lack of diversification and crushing debt burdens. A fine badge of honor, indeed.

In a desperate bid to allure the gullible, Strategy has increased dividends on preferred stocks – a true sign of confidence, or perhaps, the last gasp of a drowning man reaching for a lifebuoy. Meanwhile, The Wall Street Journal, with all the warmth of a Siberian winter, declares that the strategy pioneered by Saylor might have reached its twilight – a final blow to the hopes of digital asset sanctuaries.

And yet, amidst the ruins, Jim Chanos and others cheer. Victory is theirs as Kynikos Associates closes its bearish chapter on Saylor’s empire, a small solace in a collapsing world. But let us not forget, Saylor, that old fox, has weathered storms before, returning from the shadows of despair with a grin and a new scheme. To count him out would be as foolish as believing in the permanence of greed, my friend. 😏

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2025-11-10 17:48