drgo on Nostr: Saylor has accomplished something brilliant and yet obvious at the same time: $STRC ...

Saylor has accomplished something brilliant and yet obvious at the same time: $STRC is exactly what anyone would do if they truly believed in the long term market beating returns of bitcoin…or any asset, really. Why has this not been tried before?

Well, it has, actually. Kings would issue perpetual debts payable by his subjects with the expectation that the debt proceeds would buy far more economic activity than the sum of interest payments. Because kings have absolute authority, they can pledge the current and future property of his subjects as collateral.

Ok, besides kings and agents of unlimited taxation authority, why hasn’t this been done before by private citizens?

There hasn’t been anything to invest in that was worth the summation of interest payments to the borrower and worth the risk to the lender…until bitcoin…