Many people know that the biggest driver of this Bitcoin bull market is BlackRock, and that MSTR's largest shareholder is also BlackRock and Vanguard. But have people considered that BlackRock manages $10 trillion in assets, while Vanguard manages $7 trillion? Logically, if they casually invested $100 billion in Bitcoin, the price could easily rise above $200,000. So why are they hesitant? Instead, they are using MSTR as a firewall, indirectly borrowing $20-30 billion to buy Bitcoin? This indicates that they do not have full confidence in Bitcoin's future, or they see some risks that we do not understand. A $100 billion investment is really a small amount for two companies with $20 trillion in assets. Have people thought this through? A rise of Bitcoin to $200,000 is not a certain event.