shat stands out to me is how Strategy has basically turned Bitcoin into its core balance sheet asset, a buy like 4,871 BTC isn’t just a trade anymore

it’s part of a long-term accumulation strategy. In that sense, it acts like a continuous demand sink for the market. The risk, of course, is that if BTC stays below their average entry for a long period, their unrealized losses could pressure sentiment even if they don’t sell.
