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


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


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.

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.

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:


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.

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!

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.

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.

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.

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.

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.