Bitcoin had its largest ever nominal price drop on February 5th. STRC's volatility since then looks like a flat line while MSTR's is a seismograph. 44 trading days since then. 21x volatility ratio. MSTR swinging ±5% daily while STRC is a flatline glued to $100 par. 66% annualized vol vs 3.2%. The demand for STRC and MSTR will both be insatiable, but for different reasons. Both of those reasons end up as a permanent bid on Bitcoin.

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