Juicy Crypto News of the Week: Micheal Saylor Seems to be Buying Bitcoin on Loan

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Here’s what we’re covering today:

• Saylor beefing up Bitcoin stash on Loan: Bullish AF!
• Friend. tech the champ is losing its powers
• Logan Paul’s upcoming fight and why everyone wants him to lose.
• Week’s most important headlines
• Funniest meme of the century

Micheal Saylor is stacking Bitcoin with a loan: Son of a gun

Saylor has loved Bitcoin more than his own company, MicroStrategy.

Plus, he’s so obsessed with Bitcoin that he exhales smoke from his cigar in the form of a Bitcoin.

Today, Saylor owns 152,333 Bitcoin(0.7% of supply), worth $4.6 Billion, and is continuously stacking more and more.

He recently borrowed $2.2 Billion worth of inflated fiat currency at a blended interest rate of 1.66%.

Utilizing the cheap debt to buy a highly appreciating asset, ‘BTC.’

How did he do that?

Well, he borrowed against MicroStrategy, which has an average monthly cash flow of $3.4m, which is used to service his Bitcoin debts.

He pays around $2,966,666.00/month in interest on his $2B+ Bitcoin loans.

Plus, Saylor is about to buy another $750 million worth of Bitcoin.

Even though his SEC filing doesn't explicitly say that the entirety of the $750 million will be used to buy #Bitcoin, But COME ON, do you really think Saylor is going to buy something else with it?

He sleeps with a teddy bear named Bitcoin.

Stay humble and stack sats!!

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Friend. tech is dying

The Decentralized Social Media (DeSo) Friend.tech that enables users to trade keys “that represent shares of a creator initially became more popular than Spiderman himself.”

With daily fees shooting past Bitcoin and Uniswap, everyone from tech-savvy grandmas to horny teenagers joined the friend. tech party

But turns out the platform couldn’t stand the hype for so long. The daily transactions are now falling faster than a pigeon’s shite from the sky.

In less than three weeks after launch, critics say that the platform is ready to ‘die’, or perhaps very much dead.

Critical Highlights

• Built on Coinbase’s butt Base Layer-2, friend.tech turned heads for pocketing $1m in fees in 24 hours on Aug 19.

• Unfortunately, the fees nose-dived rapidly from $1.7 M on Aug 21 to around $215,000 on Aug 26, as users are abandoning the platform like countries are ditching the US dollar.

• The buyers and sellers on the platform also went down dramatically

• While the inflows dropped by nearly 90.5%.

In short, the platform has mirrored the life cycle of a mosquito, who dies only 21 days after birth.

If you didn’t FOMO in, congrats. If you were a trader of keys— I hope some fear is locked into you to prevent hype jobs in the future.

People are betting against Logan, “The Scammer.”

Logan Paul is that kid in school who steals things but never gets caught.

He’s so notorious even his mom has trust issues with him.

And I think he’d happily trade his millions of fans for 100 BTC.

Call me crazy, but that man is mean.

He plundered his own fans in the name of a crypto game called “CryptoZoo.”

First, he introduced the game and used ‘profit potential’ as bait. Fans aped in thinking they’d together grow rich with their idol.

But instead, saw their money disappear like a fart in the air.

When confronted, Logan shamelessly raised his hands, saying he wasn’t involved.

Later, Coffezilla— an independent Crypto investigator, exposed him and his prime involvement in the game.

It was after this that Mr. Paul pledged to return the money of the victims. Now, it’s been eight months since he promised, but no one got a penny from him.

This is why an increasing number of people are betting money against him in his next fight with Dillon Danis in October.

Jidion, a YouTube has bet $100k on Paul’s loss; he says if he wins, he'll compensate the users of ‘Cryptozoo.’

Well, it might look like a kind gesture, but Jidion was once called a double-faced Bi*ch by Logan, which he really seems to be.

However, who do you think will win the fight?

Headlines you don’t wanna miss

1. PayPal’s stablecoin is seeing limited growth as proponents continue to ignore it, like the terms and conditions of Microsoft. Yikes!
2. OnlyFans’ parent company bought $20M of Ethereum.
3. Friend.tech threatens to punish users if they use copycat apps— WTF
4. Uniswap Spot volume surpassed Coinbase in 2023— Boi looks like centralized exchanges will soon go out of fashion

Funniest meme on the planet

Also published here.