TechFlow news, March 17 — According to analysis by Shen Yu, co-founder and CEO of Cobo, Strategy (MSTR) has ingeniously amplified Bitcoin's high volatility by 2.5 times and transmitted it to the U.S. stock market. Professional institutions leverage this heightened volatility for arbitrage, capturing short-term profits;
MSTR raises cash through issuing convertible bonds and ATM equity offerings to accumulate large amounts of Bitcoin; common shareholders bear the brunt of severe stock price fluctuations and short-term downside risks, yet passively gain more "Bitcoin exposure" per share; Bitcoin holders benefit from持续 market capital inflows and rising Bitcoin prices.
In his analysis, Shen Yu poses a question: "In this process, who is the real losing party?"
