Just listened to Saylor’s latest podcast with Scott Melker where he is pitching his fixed income instruments. Here is my Saylor like analogy of what he is doing and why it’s an attack on Bitcoin. Hope it resonates.
Imagine a vast ocean where Bitcoin is the purest source of fresh water, requiring effort and risk to extract (volatility). If a bad actor builds a massive industrial plant on the coast that draws trillions of gallons of this water, filters it, mixes it with extremely potent energy drinks (the high yield and tax efficiency), and sells the packaged, labeled product through established supermarket chains (NASDAQ, S&P, Robinhood), the consumer gets instant satisfaction. However, the original motivation for seeking the untouched spring—its purity, decentralization, and ultimate scarcity—is lost, and the flow of capital that would have normally moved inland to the pure source is instead permanently diverted to the centralized, high-yield factory.