Got into bitcoin in 2020. All the reasons I decided to start buying then exist today, and SO MANY more. I’m certainly disappointed in the price today, but the case for a permissionless, peer-to-peer cash that can’t be easily confiscated or debased has never been stronger. The world desperately needs Bitcoin. I’m riding this thing to zero (if that’s what it takes), and then all the way up again. Been nostr-only for 2-3 years now too. Also riding this to zero (active users besides me, I guess?)

My rudimentary view of STRC is that it probably works so long as 1) bitcoin doesn’t break for some technical reason (i.e., actual move to zero) or 2) the capital coming into STRC isn’t actually going 1:1 into Bitcoin (i.e., paper bitcoin risk). I think #2 is much more likely than #1. My larger concern is success. What does it look like if the “black hole for fiat” works, and MSTR holds so much bitcoin? I’m not under the illusion that it matters for governance or anything. I just don’t know what they do with 2M+ BTC and how it impacts the market.