MSTR

BusyCryptographer544

You take MSTR down = they need liquidity = MSTR sells BTC at a loose = BTC goes down = JP Morgan buys BTC at a discount = BTC skyrockets

PirateSKB

MSTR chart looks like it wants to pull another dot com

Mark_0_

I had hoped interactive investor does, but not so sure as it says I need to retake the appropriateness assessment on 8 December to be able to buy crypto ETNs. It said something similar in late October (but said 8 November) - I'm not sure if it's just me failing to answer the way they want or whether they're generally delayed... Maybe see if you can find anyone online that has successfully bought some in their ii SIPP already. At the moment I'm happy with my MSTR and BMNR (Bitmine) shares so not in a rush for the ETNs.

yajvk

Why don't you switch from MSTR to IBIT instead? No need to worry about what Saylor does or whether MSTR is part of index funds or not.

ZacharyMorrisPhone

This is embarrassing. Sell MSTR. It’s a turd.

12ealdeal

Is saying that MSTR is a fund in the same sense as other BTC fund problematic when you consider how overextended they are to accumulate their BTC?

Business_Air5804

What if the price is being artificially manipulated by the govt? They want to buy in. Some have said they want to buy MSTR entirely to get their assets.

Silversaving

Yesterdays rumor: JPM conspiring to destroy MSTR. Todays rumor: BUY ALL THE MSTR BEFORE THE GOV DOES!

imfuckinglying2u

Sure thing, allow me to help. - It's the end of the cycle. Even if there would be no reason for it to end it's a self fulfilling prophecy as people believe in it and keep selling. - MSTR is about to blow up, even if it doesn't tomorrow the anticipation alone is enough to trigger a black swan event. - We're just in time for the effects of tariffs/trade wars to start being felt, people will prefer cash and move away from risky assets. There you have it, I hope I've removed all hope. You're welcome.

dasmonty

Didn't JPMorgan go short on MSTR?

SeriousGains

Everyone calling for MSTR to die is doing so because they already sold and want to by back cheap. Gtfo

pop-1988

Payment of the preferred stock dividends can be deferred. If new shares or new preferred shares can be sold, or if new loans can be borrowed, those can fund the preferred dividends. Otherwise, sell $700 million of BTC, a tiny portion of the total stash, or defer the dividends It's a tiny portion of MSTR's total stash, so it's false to claim "it's very concerning" > before buying a single additional Bitcoin They won't buy any more BTC if they can't persuade lenders, or preferred stock investors, or ordinary stock investors to fund new BTC purchases. Is that important?

Mammoth-Security-278

Treasury-style crypto companies are basically leverage + convenience plays. Instead of holding the asset, you hold a business that uses corporate tools (debt, equity raises, yield strategies) to get crypto exposure. And It’s not just BTC anymore, Bit Digital is pivoting into becoming more of an Ethereum treasury company with staking as the core strategy, kind of the ETH parallel to MSTR. Some people prefer that structure, some prefer self-custody... Depends what you’re optimizing for.

DrawMurky6585

The thing I heard was that Wall Street was going to meet in January to do their annual evaluation of every company listed on NASDAQ, and because MSTR has over 50% of its holding in a single asset, they will disqualify MSTR for listing on NASDEC and delist them. This would result in massive sell-off across every entity holding BTC which the banks and treasury will then swoop in and buy BTC up at rock bottom prices. Has anyone else heard this? Can anyone confirm or discredit the thesis with credible sources?

RedditThrowaway-1984

Or JPM is short MSTR and hedged long BTC. Sometimes MSTR trades well above its underlying BTC value. When that happens putting on a pairs trade makes sense and is relatively low risk.

ben02015

I think it’s because Strategy (MSTR) is likely to be delisted from index funds Index funds are supposed to contain different companies. But they claim that MSTR is essentially not a company at this point, but rather a fund. For example IBIT is an ETF for buying bitcoin. It’s a fund, not a company, and IBIT isn’t included in index funds. Likewise, GLD is the same but for gold - also not in index funds. They’re claiming that MSTR is essentially like a bitcoin fund and not a company, since bitcoin is >50% of the company value.

Hedi325

Tell me you are a MSTR bag holder without telling me you are a MSTR bag holder

Mark_0_

Bitcoin is great as a store of value. I think it adds enormous value to society in this respect (not to mention the potential for innovative digital credit instruments), but my input on the idea of borrowing to purchase it is that this is inappropriate for individuals. I'd leave it to the pro DAT businesses to do that kind of thing. In the UK most loans will explicitly forbid using the loan to purchase crypto. Other options are to get an interest-free purchase credit card (~20 month introductory period) if they have them where you are, and buy your usuals on that to free up some salary earlier. If you're in the UK you could also transfer old workplace pensions into a SIPP and buy into a Bitcoin ETN or MSTR (Strategy). Good luck. Avoid greed. Avoid concentrated risk. Be aware of your own real intention and make sure you're consistent and clear headed.

CapitalIncome845

Just in case you're still feeling generous, help me sooth my MSTR pains... Promise never to sell :) bc1q232z2dj4mx6pzfknzxw2sh4etzy7wul7gf6w6k

Zigxy

Lol he switched his banking to Wells Fargo. The worst possible option. Also MSTR definitely shouldn’t be in MSCI. Strategy is basically an ultra-high fee bitcoin ETF. If Strategy is able to pivot to becoming a crypto central bank then they should be there, but until then it has no place in MSCI.

rustyshackelford2050

I think it was meant to bankrupt MSTR.

YurpeeTheHerpee

I doubt it can fall that low without MSTR filing bankruptcy.

Fancy-Chicken-3730

Just a PSA for whoever needs to hear it, the spreading rumor that JP Morgan has a massive short position on MSTR appears to be completely false.

HSuke

It's a dumb accusation, and MSTR is manufacturing drama. The decision is specifically against Metaplanet. Microstrategy isn't even mention or implied in the decision.

HSuke

But do you really think something that doesn't differentiate enough from a leveraged ETF should be included in an index. Historically, indexes and leveraged indexes are not included in other indexes. The dispute is whether DATs are similar enough to a leveraged Bitcoin ETF. The majority of DATs are just leveraged plays. This proposal wasn't specifically targeted at MSTR (not even mentioned) but at **Metaplanet**.

zheyicao

Do you think this was written by an AI because you can't refute the fact that MSTR only has $54M in cash but owes $700M in preferred stock dividends?

ajarbyurns1

In the long term, maybe it's better for MSTR to stop being part of MSCI.

OriginalStringw

MSTR and BNMR and this treasury strategy bullshit should all die, I don't care if BTC goes to 20k because of it. Fuck these idiots making billions off of a self feeding leverage cycle.

Cautious-Lecture-858

This is the stupidest take. At any point in time investment firms of any kind hold strategic hedges. They did very well with this one. Doesn’t mean they’re trying to destroy Bitcoin or MSTR or even that they won’t switch long when the time comes (which they’ll probably will).

coinfeeds-bot

tldr; Crypto analysts allege JPMorgan and MSCI orchestrated a campaign against Bitcoin treasury firms like Strategy Inc. (MSTR). Accusations include JPMorgan raising margin requirements to trigger liquidations and MSCI blocking Bitcoin-heavy companies from indices. Strategy Inc., holding 649,870 Bitcoin, faces financial strain with limited cash and high dividend obligations. The Bitcoin community has launched a boycott of JPMorgan, accusing it of debanking crypto executives and manipulating market conditions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Romanizer

How big is that position? Their Bitcoin holdings are somewhere around $300 million. I doubt shorting MSTR would be beneficial for their own holdings.

Known_Click

Msci it’s a nothing burger stop with this already, MSTR will still continue in the nasdaq even if msci thinks crypto treasuries are funds, maybe they will pause their inclusion in the s&p 500 until this gets resolved but they are not going to be removed of anything

Stonna

MSTR is probably only one little piece Another piece is either JP themselves or one of the hedge funds they back we’re Naked Shorting Naked shorting became popular around 2005 and no doubt all the big guys were doing it. They could be 80billion shares sold short for all we know

FnAardvark

Wow, a random tweet with no sources again. Let me translate this tweet for everyone "I'm extremely long on either BTC or MSTR or both, and I'm panicking" Ignore the noise.

coinfeeds-bot

tldr; Grant Cardone and Bitcoin advocates are calling for a boycott of JPMorgan after the bank warned of potential outflows from Strategy (MSTR) due to its removal from MSCI indices. Critics accuse JPMorgan of shorting MSTR and highlight its alleged ties to Jeffrey Epstein. MSTR stock has seen significant declines, and the crypto community is considering a GameStop-style response to counter JPMorgan's actions. Prominent figures like Cardone and Max Keiser are urging users to close accounts with JPMorgan in protest. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Suibeam

When i looked it up it simply said MSTR is mivrostrategy and they are BI company and they buy bitcoin. Not really useful and doesnt fit your comparison

CyanTurquoise

Not against Bitcoin, against MSTR apparently. But idk if it's true or not

schmockk

Jp Morgan have a short position on MSTR (a stock, not Bitcoin). MSTR is _heavily_ exposed to Bitcoin, so when Bitcoin price falls MSTR stock price falls. A short position is basically JP Morgan borrows shares of MSTR say at 100$ and the goes and sells theses borrowed shares, hoping to in the future be able to buy back the shares they borrowed and sold for a lesser price and returning then to the original owners. When the price fell in the meantime JP Morgan makes money (difference in price times number of shares minus fees)

kajunkennyg

Well they aren't releasing OCT CPI print, so the fed doesn't have data for the Dec meeting. Without data they aren't cutting even tho odds are 50/50 right now. The next one might be in January for a 25% cut, the thing is these cuts take months to really have any effect. Go look at when the FED started raising rates, how long before inflation started to move down? This is because it takes time to ripple through the economy, it's not instant. Now if you look at other macro facts looming, like the Yen carry trade about to unwind around dec 18th if the BOJ raises rates. This will cause world markets to fall heavily, which will affect risk assets as folks run for safety. Around the time that might settle and markets look to bounce, we have the AI bubble possible popping around feb 2026 or so. This could be bad bad and again risk assets will be off the table. Other factors that might affect btc price would be the thing with MSTR getting delisted via MCSI. This will cause tons of funds via algo's to dump that stock. This is why JP MORGAN has a huge short on MSTR. That short is printing btw. So, right now it's going to be tough to get above the 50 ema. Hell I am very surprised we haven't bounced to the 90-93.5k range yet. All these folks acting like somehow btc is going to rocket ship to 200k by like the end of jan 2026. Well none of them will escrow a bet with me. I am hoping btc can get some low volume grind up this week with it being a holiday week. That's assuming a lot of folks don't decide to just go risk off right now and take a break till after new years. Some might hedge that for the long weekend. Which leaves retail to do a small low volume grind up which gets attacked by the bots selling into the liquidity. Not many reasons to be bullish right now. Ya'll wanted wallstreet here, it's a risk asset, guess what gets pummeled in a risk off environment?

glasser999

Then you should maybe get more familiar with the BTC ecosystem? Like commenting on the Apple sub that you've never heard of an iPhone. Or phrase it differently. You could *ask* about MSTR, or, you know..google it?

schmockk

Strategy is a stock, not an ETF. For instance Black Rock issued an ETF on Bitcoin. MSTR only sells shares which money they use to buy Bitcoin (simplified)

Niwde101

If Bitcoin pumps, MSTR pumps!

L00PYLL0YD

It is not, but people whine about being $100-200 down and realistically, the real holders of BTC or any crypto or proxy of such, will need to stomach being down on their investment. I am around £3000 down now on MSTR..... Still not phased.

PatMu5tard

And when MSTR ultimately get into financial difficulty it’s game over.

smellyfingernail

Yeah it’s gonna dump at us market open once MSTR starts trading again

Chrissylumpy21

Trump will save MSTR!

dataCollector42069

the fact is the other economies dont even matter as yall are too small. But I enjoy the burger dip to make money shorting MSTR

JustLTFD

It’s so silly for people to just throw numbers out there. YOU HAVE TO KNOW WHY IT WILL DO A CERTAIN THING. Saying it went down 30% last time so that’s what it’ll do this time is trash. There are so many variables it’s impossible to predict, but you can make pretty good guesses. If I could put Bitcoin in a vacuum and eliminate random outside variables, bitcoin is in a world of pain. MSTR has been buying tens of billions driving the price up and they are out of money and owe interest on the money they borrowed. So now they have to sell bitcoin to cover interest on the bitcoin they purchased. They also trained other companies to do the same. So if those were the only variables, price would 100% crash. However those aren’t, for all we know the US gov decides to buy a bunch and it would throw everything off. Everything right now in though says top is in for a couple years and world of pain as MSTR has to sell to cover interest payments

dataCollector42069

I just wanted a pump to short MSTR at higher prices oh well

wowsolanky

Im just learning so not sure, but they “attacked” MSTR apparently on Friday, I’m sure there will be more news tomorrow

curveball21

Why the hell would any of these guys give a rat’s ass about MSTR? Makes zero sense.

Wonderful_Fun543

MSTR blow~off~top paranoia, the adoption curve says keep stacking... BTW, we're all a bunch of D*cks, C*nts, and As*holes around here so do as we do (DCA) for the win👍

thebalancewithin

What price range would force MSTR to sell even 1 BTC?

KookaburraTrading

This is the black swan I’ve been waiting for. Micro strategy is and has been the main risk to BTC since they leveraged up with debt. I think we will have a solid opportunity to buy their coins for surprisingly cheap when MSTR is forced to liquidate.

ChrisWWW123

Sell now, it's going down more. Wait to buy until Jan 15th when MSTR is removed from the Nasdaq 100. It's going to be a bloodbath.

_IscoATX

There’s nothing wrong with this statement. We are literally seeing this right now. MSTR dipped way harder than Bitcoin.

iLLuSion_xGen

What’s with all the JP Morgan vs MSTR/Bitcoin fuss today?

RamoneBolivarSanchez

Another reason why I think he’s a fake charlatan clown. Imagine shit talking BTC when it was $50, then you fomo in a decade later, your average being $74k, AND you spend 8 months top blasting at $120k? Saylor is literally the textbook example of a loser you should never emulate to be, and yet so many people considered him a messiah this past cycle. I love Bitcoin and have been religiously stacking since 2017, but I will never have an ounce of respect for Saylor. He is a conman and all he’s ever been good at is pumping and dumping MSTR on retail. Only difference now is he found a way to incorporate BTC into MSTR to nuke retail even harder.

Kcirnek_

Posts like this are so stupid. People are allowed to change their opinions. Maybe you didn't like broccoli when you were 5, maybe you like it now. I'm not a fan of Saylor or MSTR, but people can change their mind especially in light of new information. Being human is the ability to adapt and change based on new information. Holding someone to their perspective from 10+ years ago is stupid. Harvard changed their mind as well.

meshreplacer

He was trashing bitcoin while building his position that I suspect he has been selling to MSTR aka self dealing. Think about it why not FUD while quietly build your position then pump it and call it the future of currency while you now unload the bags to Microstrategy.

bbatardo

He isn't wrong though. If MSTR survives it will be on the backs of people who bought the stock to pay for everything. If it gets low enough he will have to dilute even more to meet capital expenses.  Bitcoin will be fine long term, but Strategy with the risk isn't worth investing in over Bitcoin.

personalityson

When MSTR dump their stack, its your sure signal to buy in

Main-Towel-3678

Well that’s the alleged value-add of MSTR vs. buying spot BTC. MSTR can take advantage of all the capital raising tools available to Wall St. to acquire more BTC, while the average retail investor cannot.

Mohammad_Noruzi

buying $MSTR calls

FnAardvark

Logically, I would think that MSTR won't stay below the value of it's holdings, because if it is trading at a discount to it's value, somone would buy it, increasing the price.

TONNAGE1975

So MSTR only works if BTC goes up?

VitoHodl

Most probably btc will not lose 90%. Most probably it will remain about prev ATH from prev cycle. MSTR is a different story by a lot. I see it goinh down well bellow NAV.

The_AMD_Guy

100%. I agree with you especially as MSTR has lost all hype and with that, can no longer sell its stock at a premium to fund bitcoin purchases. So at this point just buy bitcoin directly. Borrowing money gets very dangerous and the more he borrows, the higher the liquidation price to fund creditors. Think the current liquidation price is around $20k but not 100% sure.

lrzbca

It’s not, bitcoin isn’t sound money. Stop repeating MSTR talking points. Anyone who wants bitcoin to be at $200,000 or $1,00,000 in couple years is hoping for hyperinflation. Nobody should wish for it

Foooour

Im shorting MSTR, which acts as a pseudo leverage on btc, with a 2x inverse ETF

Puzzman

Re the loan interest isn't not obvious from the summary page. But given its sub $50m a year its immaterial from a cashflow point of view. As for the preferred stock, some can be converted to MSTR shares (at a future date) but MSTR needs to be trading at a way higher price for that to be an option. Also while the dividends can be deferred doing so would be like waving a white flag. I doubt they would be able to borrow money or issue more preference shares for years without paying a ridiculous interest rate.

pop-1988

Isn't the loan interest deferred until loan maturity? Not sure, but I think the preferred stock dividends can be deferred Both types of instruments can be converted to MSTR shares Nothing happens to the company, except its share register gets heavily diluted and the MSTR price falls

_Commando_

If BTC price stays below 70k for 4 years then MSTR would be in trouble because they need to make that payout to investors every 4+ years and thwir strat ia based on BTC price going up a min 50% per yr.

Inittowinit1104

Friday Asian hours was def throw in the towel moment Friday . I had 81,500$ on a chalk board in my office and my alarms went off before the sun. Bought back everything I sold at 99,999$ - my next big “patient” and wait levels on my board are 73k and 91k. I’ll sell and buy there again. We need to see MSTR blow up before any talks of <10k

NochillWill123

Well makes me feel better about my -35k unrealized MSTR calls

RealPrinceZuko

Congrats, that's all you really need tbh. Everyone here talking about stacking additional coins, but simple math shows this is plenty if the worst case scenario hits (people buying things with sats). I say worst case scenario from a financial system/world perspective and not from a BTC investment perspective. Anything beyond .1 BTC is overkill imo. Whenever I hear how much BTC Saylor has with MSTR, I just laugh. Does he think he can just buy all of it and then use it as money? No. Everyone else will find something different to use if one person has all of it. That's why I'm against hoarding BTC.

ed1911

More relevant are the convertible bonds. They start to mature in 2029. For the 2032 he needs a stock price of 2400 or to repay the bonds in cash. If BTC is not at a million by than MSTR most likely goes down.

JimmyWhatever

I was 30% IBIT 15% MSTR. Sold MSTR down to 5% 61 years old. Will hold till 65, then reduce to 5-10% and primarily go to dividend ETF’s and VOO

Abject-Stretch-1187

Yah it’s idiots who don’t realize MSTR doesn’t have a liquidation price. They said the same nonsense about MSTR in the last cycle as well.

Mecklenjr

My GBTC is still up 175% after fridays close, BTC + 165%. I sold my remaining MSTR at a small profit. I’m 76 and shouldn’t take such risks but don’t want to pay capital gains and my gut tells me within a year or BTC will be back up enough to justify holding.

AutoModerator

Post is by: First-Option-1111 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1p3r3a3/emergency_bitcoin_nukes_to_82000_altcoins_broke/ [https://youtu.be/6K9xTHsj1Tg](https://youtu.be/6K9xTHsj1Tg) Bitcoin just got obliterated to $82,000 Altcoins smashed below a key support that no one is watching. In this 5-minute rapid-fire update I cover: 1) Why this drop to 82K actually happened FASTER than bears expected 2) The exact altcoin support level that just broke 3) Why MicroStrategy (MSTR) is still acting as Bitcoin’s ultimate front-runner NFA. Crypto is insanely risky. Be safe. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Full-Atmosphere-4818

MSTR's cost basis is $79k. He is almost underwater after 5 years of buying Bitcoin and in that period his average annual return trails money market funds, despite literally 20x the volatility.

Easik

MSTR is the most liquid instrument to hedge BTC exposure. All of these companies have massive exposure and need a way to balance risk, MSTR fills that with it being a leverage BTC play. It's why option premiums are so expensive. I can't imagine"they" would crush MSTR unless they intend to exit BTC entirely.

PreachyOlderBrother6

Structured selling. Whales delevraging, daily. Could go lower. Amazing buying opportunity. Personally, I'm majorly optimistic. If governments and companies like MSTR are dropping billions into it, I think it's safe for you and me to invest and hodl. Same with gold. If they're doing it, we should, too.

xarips

Yeah I want MSTR to be the biggest company to ever exist

dataCollector42069

best part of BTC is it gives the gift of allowing us to have our puts print hard on MSTR. Five digit gain this week o7

defiCosmos

Well, not if, but when the MSTR ponzi collapses, there may be no bottom.

VariatCA

Forgot it was new-daily time, so I'll add this part again. In another fun bit of coincidence, October 10th was also when the MSCI sent out their memo about potentially removing crypto-treasury companies like MSTR from the Nasdaq. They'll be "internally discussing it" up until New Years, and coming to a decision by January 15th 2026. It wouldn't surprise me one bit that pressure was also coordinated on BTC knowing that fear of Strategy's removal would build, and damaging their underlying asset could hurt them even more.

JustLTFD

You realize Michael Saylor and MSTR have been buying billions on borrowed money driving the price up from $15k? They are out of money now and have to become sellers. I think that's as fearful as it should get. Anybody in the know won't touch BTC with a 10 foot pole until his 690k coins are gone.

VariatCA

In another fun bit of coincidence, October 10th was **also** when the MSCI sent out their memo about potentially removing crypto-treasury companies like MSTR from the Nasdaq. It wouldn't surprise me one bit that pressure was also coordinated on BTC knowing that fear of Strategy's removal would build, and damaging their underlying asset could hurt them even more.

substandard2

Nope. Retail will be forced to sell due to fear. If MSTR has to sell to cover losses. Expect a massive dip. Those with liquid will do well.

coinfeeds-bot

tldr; Economist Peter Schiff has accused Bitcoin-focused company MicroStrategy (MSTR) of operating a fraudulent business model, claiming it will eventually go bankrupt. Schiff criticized the company's reliance on issuing preferred shares to raise capital for Bitcoin purchases, suggesting it creates a financial 'death spiral.' He challenged MicroStrategy Chair Michael Saylor to a debate at Binance Blockchain Week in December. Schiff's remarks highlight concerns over the company's sustainability and its ability to meet dividend obligations amid Bitcoin market volatility. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

2peg2city

That's not what a ponzi scheme is. A ponsi scheme uses the investments of new investors to simulate returns to original investors. MSTR is just a share of the company assets that are mostly btc.

arBettor

"Here in the real world we can correlate the BTC price almost directly with USDT supply curve" No you can't. 1/21/25 - 4/7/25: BTC -28%; USDT Mkt cap +4% 4/7/25 - 10/6/25: BTC +63%; USDT Mkt cap +23% 10/6/25 - 11/21/25: BTC -32%; USDT Mkt cap +4% Negatively correlated, then positively correlated, then negatively correlated. There is no meaningful correlation. "It's telling that your argument is that USDT **supply** has no effect on BTC price." Please point out where I argued that. I'm just poking holes (easily) in your arguments. You thought MSTR was an ETF, you don't know what you're talking about. Go back into hibernation.

arBettor

"Most traders know that USDT wash trading has kept BTC price up for years. " Even if you had a survey of traders to substantiate this claim, that doesn't mean anything. Do traders have some special information that the rest of us don't have access to? Tether FUD gets trotted out periodically yet it remains completely theoretical and IMO is completely false. Yet you present it as fact here. First mistake. "ETFs other than MSTR are holding their prices." Huh? Are you talking about bitcoin ETFs? They're gotten crushed alongside the bitcoin price, exactly as expected and as designed. Also MSTR is not an ETF. You're grasping at straws here and making no sense.

Butteredscotch

Doesn't MSTR have like 700k btc? That's less than 5% isn't it? Seriously asking, I'm out of the loop

mikkeltaylor1

Believe what? MSTR ain’t getting liquidated unless Bitcoin goes to $20k . Black rock ain’t letting that happen

normnormno

Christ why does it matter so much to you? Are you being forced to buy MSTR or BTC?

CoffeeAlternative647

I believe most of this dip was cause exactly by what this guy Lee mention here: https://www.reddit.com/r/MSTR/s/w1qeX7uZTY Note that im totally off from these Wall Street guys but what he says here makes total sense. Big money had to capitulate from October 10th big losses so they're both selling stash and shorting/milking MSTR (go check MSTR stock since then). The "they" he's refering is clearly Binance (90% of the liquidations happened in Binance). Big money will eventually return, they're just stacking dry powder.

BoringPrinciple2542

So nothing like Fortune500 where a valuation could cause an inherent re-index right? Crypto ETFs I would think are willing to ride things out as a whole but if I managed one I would probably sell and buy the asset itself. MSTR is way overpriced compared to BTC value especially after Q3/4 FY24.