I assumed he's paying out of capital, and the gold backing of the bond will erode over time.
Maybe we shouldn't assume.
Maybe we shouldn't assume.
You're right, on a second look that appears to be the case, he is paying very small amounts as dividends, it would appear. It is a very interesting idea, unfortunately if he is actually selling them he is probably working with capital gains taxes that are going to hurt him in the long run unless he's working off his own gold holdings.
I suppose it's a smart idea assuming he can avoid unnecessary taxes and fees. Once his reserves are depleted he'll have to start selling Bitcoin for cash and then use the cash to buy more gold.
