Picture this: You’re the founder of a project that is heavily involved with an algorithmic stablecoin. The only reason why people are buying your coin is because of a 20% APY Ponzi scheme you’re running. You just recently bought billions of dollars worth of BTC. You’ve previously developed an algorithmic stablecoin that went into a death spiral. It’s all playing out again and you know where this is going. You know that dumping all this BTC is going to do little in terms of actually stopping this death spiral from happening. Would you think to store away a good chunk of that BTC for yourself and let the project die, knowing that it won’t matter if you dumped your entire BTC position or a portion of it? What do you think?
Edit: I meant to say more than the media is letting on, obviously I wouldn’t take the scumbag’s word on anything.
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