It all changed with IBIT now its a leveraged beta play on the nasdaq that only works when leverage is cheap and liquidity is plenty. BTC always lived on liquidity but now its just soo sensitive
Bitcoin's Latest Selloff Is Shattering Many Of Its Most Enduring Myths
MSTR holder. Its a company with no operating cashflows. It has the worlds biggest holding of a highly volatile asset class. B- is pretty good all things considered. Plus first time you go for a rating they dont whip out the AAA. Well unless youre a tranched mortgage backed security [Grin] [Grin]
Crypto Daily|Strategy Is Tagged Junk by S&P in Initial Rating; Galaxy Digital Sinks After $1 Billion Exchangeable Bond Offer
I think this is misleading. They say this in all their regulatory notices. Its like any standard risk disclaimer. Price of our main product goes down = risk to business.