> Imagine if JP Morgan Chase's entire value was in JP Morgan Chase stock The value of JP Morgan Case is the total value of their stock, almost by definition.

> Imagine if JP Morgan Chase's entire value was in JP Morgan Chase stock The value of JP Morgan Case is the total value of their stock, almost by definition. Buy backs are also basically a transfer of a company's cash to company stock and are regularly done by US corporates. The difference here is that they secured debt against their own company assets so that when the value of the company went down, they went into more debt relative to their asset value. They were also leveraging an asset which was highly volatile and which could be easily targeted by bad actors. Anyone with any experience in risk management understands that your leverage should be proportional to the volatility of the asset you're leveraging. This is why you get large loans backed assets like real estate, but not stocks. Stocks drop 20-30% every few years where as real estate is far more stable. If they were leveraging dogecoin instead of their own token the result would have been the same.