I think what Saylor is doing should be illegal within listed equity markets, and the only reason it isn't illegal (yet) is because it hasn't blown up. Only once enough people have lost money will this type of pyramid scheme be outlawed.

One day a speculative currency attack like this might actually work. But only admid an active collapse in the dollar, it can't try and start it. And it needs better execution than what Saylor is, and for the government to allow it to complete (aka be complicit).