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  "map_content": "The value of an asset does not arise because Michael Saylor occasionally sells a ceremonial fragment of it. Value arises because there are willing buyers and willing sellers participating in a market. The market existed before his sale and will exist after it.\r\nThe argument is rather like claiming that a vineyard has no value until the owner drinks a glass of his own wine in public.\r\nIf BTC could not be sold by anyone, there would be no market. But that is not the claim. A mythical Millions of people buy and sell it every day. Its liquidity is demonstrated continuously by the market itself, not by a publicity stunt involving 32 BTC.\r\nThe notion that credit agencies would regard an asset as worthless unless its largest advocate periodically sells a token amount is especially amusing. By that logic, Warren Buffett would need to sell a share of every company he owns each quarter merely to prove that stock markets still exist.\r\nNo. Someone has confused evidence of liquidity with participation in liquidity.\r\nAs Oscar Wilde might have observed, the trouble with modern financial commentary is that it mistakes a gesture for an argument and publicity for proof.\r\nWritten by S. Tominaga",
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