At 10:22

Saylor is full of crap, but in this puff piece he actually explains the recent drop in BTC valuation pretty well. He says it’s a product of less available mainstream lending (but some “shadow banking lending”) and excess BTC rehypothecation by hedge funds. Specifically, he discusses how price is lowered, and volatility is dampened by this rehypothecation. Which is, by the way, technically FRAUD.

He calls out IBIT (Blackrock Bitcoin ETF) for using their Bitcoin to collateralize multiple financial instruments. Just Larry Fink up there on Wall Street, doing the Lord’s Work.

submitted by /u/No-Masterpiece2246 [link] [comments]r/CryptoCurrencyRead More

You might also be interested in reading Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows.