I have an inescapable thought that if MSTR fails to pursue the path of strategic reserves, there may no longer be any Bitcoin strategic reserves.
If $MSTR's role as a strategic reserve contradicts the price and concept of bitcoin:native, then who would still hold Bitcoin? What is the significance of Wall Street introducing a Bitcoin spot ETF?
Although I don't like preferred stocks like $STRC, I think MSTR is playing the role of a super whale in Bitcoin. If the super whale collapses, will other whales doubt whether what they are doing is correct?
When I think of this, I find it hard to continue reflecting. Even if MSTR really goes bankrupt, I believe it won't change the essence of Bitcoin, but are my companions really expecting that MSTR's collapse would benefit BTC?
I truly don't know.
But I know that if MSTR ceases to exist, then it is very likely that there will no longer be any listed companies with Bitcoin strategic reserves in this world. At most, it would just be a little bought for safekeeping.
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