Hi Chris,
Longtime listener, first time booster. Hopefully this gets through.
The Microstrategy/Saylor deviation from the never-sell strategy, whether to service debt or facilitate future strategic purchases doesn't strike me as a rash decision in the slightest; especially given the overheated state of markets. Bessent's laughable 'transitory' / 'temporary aberrations' characterization of the Iran War's impact that completely ignores lagging supply chain shocks just points to the inevitable broader market retracement back to reality. If Bitcoin's historic mimicry of US index nosedives is anything to go by, then why not sell and DCA lower? After all, the ability to firesale BTC into a less corruptible market to tap its value 24/7, 365 is a feature that makes it great money. All I'm saying is that if the 394 Billion $ divested cash pile that Berkshire Hathaway is currently sitting on means anything, (be fearful when others are greedy), then perhaps Saylor's recent shift could simply be a well timed adaptation. Only time will tell.
Thanks for sharing all the great signal and for everything that you do. The show is really a highlight of the week!