POV: > you are Michael Saylor. > the entire market believes you cannot sell your bitcoin because it will front-run you > “I can arb this.” > atm $2B of $MSTR at $BTC $77,000. > announce you sold 32 $BTC. > market nukes to frontrun you > you buy 32,032 $BTC at $60,000 at a (1.3*1.25=1.625) mNAV > you announce this > market nukes shorts to oblivion > market is now inoculated; you have proven you have shorters by the balls
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