ChainCatcher message, MicroStrategy founder Michael Saylor posted on X stating: "MSTR is a credit default swap for over $100 trillion in assets from the 20th century."

Note: A credit default swap (CDS) is one of the main tools for mitigating credit risk in over-the-counter trading. It is a financial derivative product and one of the credit derivative instruments. It can be viewed as a form of default insurance on a financial asset.