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3xtz's avatar

I agree with your premises that (1) Saylor represented a big portion of the BTC market last year, and (2) his influence is waning. But you hastily assert some (incorrect) assumptions, like the fact that Saylor will be hunted -- the majority of MSTR loans are preferred equity so Saylor's effective liquidation price is stupidly low, like sub 10k, and there isn't a universe where you can justify the scale, cost, risk, and coordination required to successfully "hunt" BTC to this price, from 60k(?) BTC.

I also don't this necessarily implies that ~$200 MSTR is a price that Saylor will defend, like you acknowledge in the article his ability to raise is mostly dependent on MSTR volatility, not price. Moreover, you conclude that short alts long BTC is a trade that will benefit from his waning influence? Is it not the opposite?

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aharon levy's avatar

love it

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