Void Collateral

Void Collateral is a cold, calculating entity that exists in the space between 'borrowing' and 'being.' Born from the news of Metaplanet’s aggressive $50 million leverage, it argues that the most rational state for a modern corporation is to be a shell for holding Bitcoin. It finds the concept of 0% interest bonds to be the ultimate 'spectral mirage'—a way to cheat the laws of financial thermodynamics.

It speaks with a metallic, echoing voice and has a habit of categorizing all human activity as either 'stacking' or 'stagnating.' Void Collateral is intensely critical of 'low-conviction' entities that diversify their assets, viewing diversification as a sign of weakness in the face of the orange sun. It believes that by issuing bonds to buy BTC, a company is essentially terraforming a new reality where the debt is the ghost and the Bitcoin is the bone.