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#分享美股交易赢英伟达股票
Bitcoin fell to $61,383 yesterday, with market share declining. Market focus has once again shifted to the high leverage financing flywheel risk of MicroStrategy (MSTR). Its issued STRC instrument attracts funds to buy BTC through "selling put options" with a high interest rate of 11.5%, but the core vulnerability lies in the mNAV (adjusted net asset value). If BTC remains sideways or declines, causing the mNAV to stay below 1x for a long period, it could trigger dividend payout difficulties and a liquidity spiral. Institutions warn that this mechanism carries underestimated credit and governance risks. Saylor calls it a "Bitcoin money fund," but if the market weakens, high-yield leverage could shift from an engine to a systemic hidden danger.
How do you view the long-term impact of STRC on the BTC ecosystem? How should investors be alert to potential chain reactions?