0 reply
0 recast
0 reaction
"My answer is: I'm selling the volatility. So for example, if I sell a billion dollar bond, I'm capturing an 80% spread upfront, so I'm making $800 million in Bitcoin.
If Bitcoin crashes by 80%, then I was neutral. So if Bitcoin went to 20k tomorrow, you could say: you didn't make any money on that. But if Bitcoin doesn't crash, 80%, I made 800 million. Now, if Bitcoin goes down 20, 30 or 40%, Bitcoin's volatile. My stock is twice as volatile. I'm going to refinance it and sell the volatility." - Michael Saylor 0 reply
3 recasts
28 reactions
