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frank9755
Same place the money goes when a stock goes to $0-10, disappears. Stocks, commodities, crypto all operate the same - you essentially hold a ticket for X at X price, if price goes to 0 or low you’re left with an expensive piece of paper saying what you own.
I still believe BTC will likely die a slow death, it can’t operate in any capacity as a trusted financial instrument. It’s volatility means it’s not suited for backing the fed, it’s anonymity works great for money laundering/drugs/organised crime, it’s only selling point is washing money. It was created as an instrument away from traditional banking institutions yet banks and hedge funds are now onboard using it to generate profit. I think FOMO is a massive part of price drive along with the ‘scarcity’ angle - but the idea that it could back government currency is insane, you don’t know how many people in the world own X of bitcoin, some long term holder could sell and cause a run on the price, and the governments lost million/billions.
MSTR is even weirder- buying it through coinbase, seems his only angle is using interest free money to buy up as much bitcoin as possible, in the hope to corner the market and drive price higher?