Everyone treats Saylor like a saint for “stacking” 640,000 BTC. But let’s be real—he didn’t mine them, he leveraged them. If a miner earns 900 BTC per day through proof-of-work, Saylor’s bag equals ~711 days of entire network issuance. That’s almost two full epochs of hash-secured work… except his were conjured from corporate debt, not thermodynamic proof. Now imagine what happens if that debt train derails—if MSTR can’t roll paper, service the prefs, or meet covenants. Suddenly, the “hero stack” becomes the largest single-point failure in Bitcoin’s price discovery. One margin call away from a multi-billion-dollar forced sale. He’s not Satoshi. He’s a synthetic whale, financed by the same fiat system Bitcoin was built to escape. And if the day comes when he’s forced to dump to stay solvent, all those who cheered “number go up” will learn the hard way that leverage isn’t conviction— it’s counterparty risk wearing a laser-eyed grin. Bitcoin doesn’t need saviors. It needs sovereigns.

Went to bed early now I’m up.

I’m in Bitcoin for the long haul. Still stacking for at least 5 more years. So honestly? I hope that was the cycle top — because I’m not sure this space could survive another leg up in peak retardation. The plot has been lost, need to get back to basics.

I don’t think we get a self sovereign individual narrative shift unless the Bitcoin Treasury shills take it in the ass before we moon.