Although BTC continues to soar to 98000, MSTR plummeted by 16%, even those who bet on Bitcoin feel this company is overvalued by too much.

A company, relying on financing and issuing bonds to speculate on Bitcoin, becoming a company with a market value of hundreds of billions of dollars, is this reasonable? MSTR holds 330,000 Bitcoins, about 1.6%, with a cost of about $50,000, and even if the unrealized gains are considered real, it would only be $16 billion, how can it be valued in the hundreds of billions? Is it assumed that its speculation on Bitcoin will continue to succeed?

Therefore, this is undoubtedly a distorted madness. American capital is playing with hollow money, the scale is about to explode! MSTR was shorted by Citron, and when the news broke, even if Bitcoin continued to soar close to $100,000, it still dropped by 16%. The trading volume reached an incredible $45.9 billion, with a turnover of 44%.

We can imagine countless American capital indulging in Bitcoin-like "innovation", inventing various "strategies", leveraging the capital market, raising funds and borrowing money to engage in capital games. These things have no relation to the real economy, the market value of Bitcoin itself is almost half of Japan's GDP, and then there are companies like MSTR, whose market value is also expanding.

The U.S. stock market has made Apple's market value larger than the entire German stock market, and NVIDIA has surpassed a market value of $3.6 trillion. This is all the crazy power of capital, and I am waiting to see American capital explode itself.