The interesting thing about Strategy is their flagship STRC product & the impact it has on bitcoin's demand/supply dynamic. They've finally got their infinite fiat flywheel humming along again & I'm getting out the popcorn. A few Bitcoiners seem to think that other Bitcoiners want them to buy the MSTR/STRC stock. That's not really the point, Strategy is funneling a lot of value from the fiat system into their company's bitcoin treasury. The Normy's mind can't comprehend how this perpetual yield is created, some can glimpse the arbitrage in return that Strategy sees. Whether some end up buying STRC, MSTR, IBIT or BTC directly, the net result is bitcoin NGU. More minds looking at bitcoin from pure self interest. People can't ignore a largely guaranteed 11.5% pa perpetual return. At a minimum they start asking questions that lead to questions about Bitcoin. Strategy is currently leading the race to financialise bitcoin. The big banks are playing catch-up, but they're coming. If you don't like that bitcoin UTxO control is becoming centralised, buy as many fat UTxOs as you can & send em to addresses that you control. If you're selling sats on an exchange, you don't get to complain about Saylor buying them. The Luna stable coin comparison is interesting because STRC's is structured slightly differently with different incentives. Strategy is effectively capping the STRC stock at $100 per share. If it doesn't get volume above $100 they don't issue more STRC shares. That places a cap on the STRC price but not a floor. The floor is set by people arbitraging the effective rate. To Strategy, STRC < $100 just means that they're not able to stack as many bitcoin, nothing breaks but the target effective rate adjusts (ie it goes to 11.75% or 12%). Unlike Luna, the nominal value wasn't ever defended, it was allowed to self correct. Volatility has now near disappeared while their daily traded volume is going parabolic. TLDR: I think Strategy & Morgan Stanly is kicking off a bull market (at min a bear market rally).