A launch loop would be held up at this altitude by momentum of the belt as it circulates around the structure, in effect it transfers the weight of the structure onto a pair of magnetic bearings, one at each end, which support it.
It transfers the weight of the structure onto a pair of magnetic bearings. This was what a launch loop would be held up at this altitude by momentum of the belt. It circulates around the structure. This is in effect. Magnetic bearings are one at each end. Each end support it.