MicroStrategy’s Bitcoin buying spree has sparked comparisons to Do Kwon’s infamous 2022 run with Terra/LUNA. Saylor’s vision of acquiring a massive BTC stash has some wondering: could this end in another “death spiral”? đŸŒ€â˜ ïž

For context, Kwon aimed to buy 1 million BTC to back his UST stablecoin, but it all collapsed, leaving investors with a 99.9% loss. Saylor’s goal? To make MicroStrategy a “Bitcoin investment bank,” backed by his ever-growing BTC holdings. 👀

📈 So far, Saylor’s strategy has boosted MicroStrategy’s stock 459% YTD. But with $35B in BTC on the books, critics worry about the risks of turning Bitcoin into a perpetual motion machine.

Is Saylor building the future of Bitcoin finance or setting up for a Kwon-like crash? Time (and the market) will tell. đŸ€”

#DoKwon #MichaelSaylor