Meta shareholders rejected the Bitcoin plan with less than 1% in favour. The proposal called Bitcoin a hedge against inflation and weak bonds. GameStop and Metaplanet are among firms copying Saylor’s Bitcoin play.
If you own a share of meta then you own a share of meta and meta owns a mix of assets ranging from physical to various liquidity, whether its USD or BTC there isn’t any difference in this regard.
They’re selling shares of their company, META stocks, to the shareholders that then vote on their liquidity portfolios. Not selling Crypto. Owners of a hypothetical META crypto don’t benefit from or have any say in how the company operates.
Alternatively to BTC they could spend that money on holding their own hypothetical crypto so as to create market cap and buy/sell volumes appealing to crypto investors.
Since you’ve missed the news, the USA has been overtaken by a fascist christian white supremacist party who gut social programs, cut science funding, literally completely disbanded the department of education, increased the defficit, and enacted large Tariffs on every other nation.
the USA has been overtaken by a fascist christian white supremacist party
For the third time (assuming you don’t count Congressional cycles) in twenty years. I’ve spent a solid 13 of the last 25 years living under a Christian Fascist presidency. Why am I supposed to assume that will devalue the dollar this time around?
Why would they in the first place? It would be like a newspaper buying gold. If investors want to buy bitcoin they can just do that.
Businesses are following the lead of Microstrategy with keeping BTC on the treasury books to increase profits and hedge against inflation.
But now they’re essentially just a bitcoin proxy, they even changed the logo to have a bitcoin on it.
Now that there’s lots of ETFs and stuff, why buy Microstrategy and not just bitcoin?
If you own a share of meta then you own a share of meta and meta owns a mix of assets ranging from physical to various liquidity, whether its USD or BTC there isn’t any difference in this regard.
If i understood it correctly, meta wants to slap its own crypto-currency on everything.
That was called Libre
Buying BTC doesn’t help them do that.
“our crypto is backed in value by bitcoin”
They’re selling shares of their company, META stocks, to the shareholders that then vote on their liquidity portfolios. Not selling Crypto. Owners of a hypothetical META crypto don’t benefit from or have any say in how the company operates.
Alternatively to BTC they could spend that money on holding their own hypothetical crypto so as to create market cap and buy/sell volumes appealing to crypto investors.
Because holding USD is a liability these days.
Is it?
Seems like petrodollars have been riding high for decades.
!remindme in one year
Since you’ve missed the news, the USA has been overtaken by a fascist christian white supremacist party who gut social programs, cut science funding, literally completely disbanded the department of education, increased the defficit, and enacted large Tariffs on every other nation.
For the third time (assuming you don’t count Congressional cycles) in twenty years. I’ve spent a solid 13 of the last 25 years living under a Christian Fascist presidency. Why am I supposed to assume that will devalue the dollar this time around?
You’re either pretending this administration isn’t worse than any previous example or you are woefully naïve.
Apparently GameStop are considering it too.
Yeah but GameStop’s entire existence depends on crypto meme hype, while Meta’s depends on extracting our data as efficiently as possible
Gamestop already did last week
I’m out of date then.