I don’t think Bitcoin is selling off because of MSTR I think it’s being tapped to fund the market’s upcoming hot ball of money trades: SpaceX, Anthropic, whatever else everyone suddenly “has to own” This means in the future, the correlation breakdown will itself become the fuel

The MSTR model is supposed to work with a literal 0-month runway, just by selling either BTC or MSTR shares to cover the dividends That's why there was no runway when STRC was launched, and Strategy decided to create a USD reserve only to reassure the market and the credit agencies So the comparison with UST doesn't make sense unless you think BTC can collapse to 0 in two days like LUNA

Strive's CEO stated that the company will hold its $BTC position until 2027 without selling, effectively providing the market with a sense of reassurance. At the institutional level, a competition is emerging to see who can hold the longest, transforming the long-term holding narrative from a slogan into a balance sheet strategy. Such statements themselves fuel the perception of $BTC’s scarcity, adding another layer of institutional lock-up logic beyond miner selling pressure.

The biggest Bitcoin story isn’t the crash. It’s what happened during the crash. Strategy just suggested they could raise enough capital to buy 1,100,000 MORE Bitcoin. Think about that. Then it got even crazier. According to Strategy CEO Phong Le… they believe they could out-raise SpaceX’s $80 billion IPO. Not a startup. Not a crypto company. SpaceX. One of the most valuable private companies on Earth. Let that sink in. More Bitcoin than most nations could ever hope to acquire. And that’s on top of the 843,706 Bitcoin Strategy already owns. During a crash. While the market was panicking… one of the largest Bitcoin holders on Earth was discussing its next phase of accumulation. That’s the disconnect. Most people see a falling price. The biggest buyers see a growing opportunity. And Strategy isn’t the only one. Treasury Secretary Scott Bessent says the Strategic Bitcoin Reserve is moving forward. The United States already holds 329,693 Bitcoin. And the new bill calls for acquiring 1,000,000 MORE. UAE sovereign funds now hold more than $1 billion worth of Bitcoin. Charles Schwab, which oversees roughly $12.6 trillion in assets, is expanding its Bitcoin framework. Meanwhile, the first Federal National Mortgage Association-backed mortgage using Bitcoin just closed. The buyer kept their Bitcoin. They didn’t liquidate. They didn’t sell. They bought the house and kept the asset. Think about what all of this means. The doors keep opening. The buyers keep arriving. The supply stays the same. And yet the conversation is still dominated by price. That’s why so many people keep getting Bitcoin wrong. They focus on the chart. They ignore the trend. Because the trend isn’t about price. The trend is about ownership. Who is getting the Bitcoin? Who is keeping the Bitcoin? And who is trying to acquire more? That’s where the real story is. The recent ETF outflows have convinced many people that demand is fading. But another explanation is emerging. Capital isn’t disappearing. It’s rotating. Some investors are chasing AI stocks. Others are chasing short-term narratives. Meanwhile, the strongest Bitcoin buyers continue accumulating. That’s why every major correction creates confusion. People assume lower prices mean lower conviction. Often, the opposite is true. The weak hands leave. The strongest buyers get more aggressive. And that’s exactly what we’re seeing now. Because if Strategy is seriously discussing raising more capital than SpaceX… during a selloff… what do you think happens when the panic ends? What do you think happens when institutions, governments, corporations, and sovereign funds all start competing for the same finite asset again? Because Bitcoin’s supply didn’t increase. The crash didn’t create more Bitcoin. It only changed who was willing to sell it. And that’s why this story matters. Not because Bitcoin fell. Because some of the biggest buyers in the world still want more. A lot more. So here’s the question: If Strategy can raise enough capital to buy over 1,100,000 MORE Bitcoin… who exactly plans to sell it to them?

$BTC @Saylor $XRP #Crypto Incredible... Its like I knew exactly what would happen and told everyone. Saylor will now have to dig deeper into his own pocket to increase $STRC price/value to have it be of interest to further investments. If people stop buying STRC or his other preferred stocks he can no longer buy BTC and he will still be responsible for paying 12% every month to every holder. Its going to be the fastest drain of funds ever. Imagine what happens to price if he sells 20% of his 840,000 bitcoins. Every time he sells he will INCREASE his average buy price while at the same time lowering the price of BTC further putting himself in the hole. Hes basically left holding the biggest bag and whos going to buy it? The banks! Ill keep you posted.

Distribution via social media has been a cornerstone of the Bitcoin Strategy. Strategy have been open about this. At 5M followers Saylor’s X account is formidable. Combine this with a network of other high tier accounts, and you have a veritable distribution machine. There is next to no marginal cost to send a post. Given the easy access to listed securities for retail investors, each post from Saylor probably converts directly into purchases of MSTR, STRC, or whatever other ticker he decides to post. Same with each television appearance, etc. The retail investor % on STRC supports this theory of Digital Credit distribution. Social media is the primary mechanism to sell securities. Our advantage in distribution is critical for us in maintaining our leading position in the industry. When Strategy posts about other securities they are directly diverting capital flows from their own products, to these other securities. There are finite investment flows each trading day. What Saylor chooses to promote has an enormous impact on market outcomes. Think what would happen to a smaller treasury company if Saylor chose to regularly post about it. Think what happens to companies he chooses to ignore. $MSTR $STRC

The justification for supporting competitors is that it benefits the Bitcoin and Digital Credit ecosystems over the long run. This is logical rationale for common equity investors. But STRC was not sold to investors as a long duration growth vehicle whose returns depend on ecosystem development decades into the future. It was sold as a cash management or money market type instrument focused on yield, stability, and preservation of value. Therefore, management should prioritize outcomes that directly benefit STRC holders today rather than asking them to accept disadvantages in pursuit of speculative long term ecosystem benefits. $STRC $MSTR

The most asymmetric bet in Bitcoin is $MSTR. Think about this: if u believe Bitcoin can grow to a million dollar per coin, $MSTR will be the beneficiary, a potential trillion dollar company. The risk u need to monitor is liquidation risk, that risk is zero.