Pre-programmed destiny, 21 million coins—the number fixed like the fate of a Dostoevsky character doomed by philosophical discussions in some smoky St. Petersburg tavern. And yet, the model of this grand currency, Bitcoin, is not deflationary by birth. No, fresh BTC is seductively mined each day, gleaming like new rubles in an empty pocket, none cast into oblivion like an old Dostoevskian debtor. Inflating, not shrinking—opposite of deflation, my friend.
But let us not rush to conclusions, for the plot thickens with the arrival of CryptoQuant’s CEO—a modern-day Ivan Karamazov pondering how Strategy (a name so generic it almost mocks us) and his faithful, Bitcoin-obsessed companion, Michael Saylor, have twisted fate and bent reality, turning bitcoin into a supposedly deflationary relic. Miracles and economic theology, all mixed together! 🙄
Is BTC Deflationary? (Spoiler: It’s Complicated Like Love and Taxes)
Deflation, in the strictest sense—supply shrinking like your patience during a Dostoevsky monologue. New BTC, charming and relentless, arrive every day (~450 BTC if you fancy counting grains of economic sand). Should BNB, with its literally burning mechanism (talk about a hot asset!), be on the deflationary throne instead?
Even Ethereum, that darling of coffee shop debaters, tried to join the deflationary club. Some say success, others scream scandal. But as one would say in the smoky rooms: “Let’s not open that can of crypto-worms. There’s enough existential dread already.”
But hear me, for a (not-so) unsung hero looms large in the background—a certain Michael Saylor. A Bitcoin Gatsby who, according to CryptoQuant’s Ki Young Ju, is giving “thanks” to the almighty Saylor. Word is, Saylor’s strategy is to buy BTC faster than they’re even mined, as relentless as Raskolnikov pacing through cold Petersburg nights.
CQ’s CEO, sipping existential coffee, proclaims that this “Strategy’s strategy” (yes, it sounds as redundant as Svidrigailov’s excuses) to never, ever sell, has locked up over 555,000 BTC in a vault colder than Siberia. Annual deflation rate? -2.23%. Maybe even more when factoring in all the other institutional HODLers nervously clutching their cryptographic pearls. One might say: “The only thing tighter than Saylor’s HODL is Ivan’s existential anxiety.”
#Bitcoin is deflationary.
@Strategy is buying BTC faster than it’s mined. Their 555K BTC is illiquid with no plans to sell.
MSTR’s holdings alone mean a -2.23% annual deflation rate—likely higher with other stable institutional holders.
— Ki Young Ju (@ki_young_ju) May 10, 2025
555,450 and Probably More By the Time You Read This
The saga began in September 2020. The company—then as drably named as “MicroStrategy,” led by Saylor (a CEO with the energy of a Dostoevsky villain and the optimism of a man yet to see his wife’s credit card bill)—swooped in with 21,454 BTC. The price of bitcoin was barely ten thousand dollars. (Yes, reader, add a zero for inflation. Or for tears. Both work.)
Then, in 2021, Bitcoin soared to almost $70,000. MicroStrategy kept buying. The winter came: FTX collapse, industry drama thicker than the entire Russian literary canon—and the company still buying. Even when their portfolio wept red, even as all seemed lost, they pressed on, and the ghost of Dostoevsky surely nodded approvingly: “Ah, yes. Suffering builds character.”
2024 US elections? Like a minor subplot. Strategy’s faith is now ironclad and absurd. They now sit on 555,450 BTC (almost $58 billion), with unrealized profits of nearly $20 billion—just enough to buy several Russian novels’ worth of candles and despair. Or maybe, just more Bitcoin. 😏
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2025-05-10 13:35