Michael Saylor Drama
The cult of Bitcoin has been angered by their most revered profit prophet.
Shockwaves throughout the Bitcoin community yesterday.
Everyone is very angry about this rumor that Michael Saylor is actively engaged in cockblocking Bitcoin Core development funding.
Checking in on this development today it looks like there's some speculation that the ETF in question could be ARK Investments spearheaded by Cathie Wood. Again it's extremely unclear if any of this has any merit. The @saylor Twitter account has thus far remained completely silent about the entire ordeal... which is pretty bad optics imo. I assume the rumors are true if he refuses to even acknowledge the drama. Maybe I'm wrong but I'm going to assume this rumor is accurate until he at least denies it or otherwise comments.
Is this cognitive dissonance?
Is it possible that Bitcoin cult members are going to find a reason to support Saylor no matter what he does? The new narrative being presented is that stopping institutions from funding Bitcoin devs is a good thing. We wouldn't want this money to have a direct affect on the network's governance.
It's not a terrible argument to make but we definitely have to question the motive behind it. For example, if someone actually believes this line of logic that is perfectly valid. If, however, a Bitcoiner pretends to agree with this sentiment simply because they are on Saylor's side no matter what... then they happen to have a completely corrupted, biased, and worthless opinion. Of course there is no way to know one way or the other but we can be sure that at least some percentage of users are operating in this manner. The question is how many are doing it on a statistical level. The level of blind greed within the cult would seem to imply that many will be willing to turn a blind eye to such indiscretions.
What do I personally think?
Well it was only a couple weeks ago that I saw Saylor being asked on a panel from an audience member if they should just continue buying MSTR stock instead of BTC because MSTR had just spiked to the moon and was massively outperforming BTC. Saylor was basically like, "No, you should buy Bitcoin I'm not here to shill my security right now." I thought that was very impressive.
What I've also found impressive is Saylor having a history about discussing "boating accidents" and how easy it is to secure and transport BTC vs any other asset on the planet. He very often represents two different ideologies. One of his personalities is a hardcore unhinged anarchist freedom lover and the other is a corporate businessman. He has to juggle these two different modes of operation depending on the current context he finds himself in.
So when Saylor is on TV telling everybody that Bitcoin isn't a currency nor does it have to be... that does not necessarily represent his actual beliefs. That is corporate-shill Saylor trying to appeal to corporations, institutions, banks, and governments. The context very much matters and he could be found making very conflicting statements within a setting more friendly to the current ideology. In this regard Saylor very much is a politician of sorts that needs to juggle all his constituents needs. The code switching is obvious. He can't act like a complete maniac in front of serious people, but he can act that way when addressing other hardcore Bitcoiners.
Conclusion
More than anything else I think this entire ordeal says a lot less about Michael Saylor and a lot more about Bitcoin cultists. These people are a mob and will blind-rage attack even their most beloved leaders on the most circumstantial of evidence. Don't forget that all these same jackasses were the ones calling for MSTR and Saylor to get margin called and liquidated during the bear market. Now they all pretend they were on his side the entire time. These people are fickle, irrational, and potentially delusional/dangerous. Take note.
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