I have been very exhausted from my recent assignments, mainly due to the poor market conditions that have caused my friends to be in a bad mood. Therefore, there is a lot of content that needs to be explained purely, and it is tiring to write and read. But I think this is an inevitable trend, after all, as the price of Bitcoin: native falls below $60000, many investors' mentality is not good, especially MSTR's mNAV at this position is around 1, which increases the difficulty of the market. I personally don't like products like STRC, but I don't like it and wouldn't go to FUD either. However, the continuous decline of STRC has made many investors and Bitcoin investors feel uncomfortable. They originally wanted 11.5% interest, but ended up losing 25% of their principal. It may not be easy for Michael to rely on preferred stock financing in the future, especially now that the most dangerous thing is not STRC but STRD, which is already priced at only $53. I will talk about this separately later. The overall situation of Bitcoin is not very good at present, mainly due to the mutual influence with MSTR. This is mainly caused by emotions, and there is no better way. I hope there can be macro good news to boost it, but the recent trend of the US stock market is not very good. It would be good if Bitcoin could temporarily maintain around $60000. The war between the United States and Iran is currently progressing well, although there have been minor incidents, it does not affect the peace talks between the two sides. This is what I often say. Although the United States and Iran always make small moves, these are the ultimate tests before the peace talks. If we really want to start a new war, no one wants to. The current focus is still on whether Hormuz should charge. Although Iran and Oman have stated that they will charge a certain fee to Hormuz, they are basically testing the patience of the United States. The main reason is that this war has shown Iran the benefits of guarding Hormuz. Although the market definitely does not want Hormuz to charge fees, it is already much better than being closed off. Anyway, there is still room for maneuver when the sky falls. Bitget is here, VIP! Crypto、 US shares CFD， Global Advantage One Stop Layout