A few last points. MicroStrategy now has a 300% premium on Bitcoin, and the risks for secondary market participants are extremely high if they do not understand the variables. Growing volumes mean that premiums will only shrink rather than expand; The ability to continue financing is one of the variables that turns the premium from virtual to real. In addition, it is best for everyone to learn micro-strategies, if 100 listed companies learn its bitcoin standard, the overall holding cost of bitcoin will be raised, which is equivalent to helping it cut the premium bubble together. Can other assets (e.g. ETH, SOL, MEME) replicate the same strategy? At the heart of this strategy is that enough counterparties are willing to accept similar convertible bond terms, and the reason they do so is that more counterparties want to gain exposure to different combinations of risks in Bitcoin. In addition to liquidity, assets such as ETH/SOL are superimposed with more economic models, technology and market risks, which is much more difficult to operate, but the potential returns are also large, and it is difficult to say that a degen version of the micro-strategy can be made. I feel like the bankers are gearing up.