19. Fraud risk: Fraudulent activities, such as accounting scandals or Ponzi schemes, can impact the value of equities. Saylor notes that Bitcoin's transparent and immutable blockchain technology may make it less susceptible to fraud and manipulation.
20. Environmental risk: Environmental concerns, such as climate change or resource depletion, can impact the value of equities, particularly for companies in industries with high carbon footprints or resource consumption. Saylor suggests that Bitcoin's digital nature may make it more environmentally friendly than traditional equities.
21. Geopolitical risk: Political tensions or conflicts can impact the value of equities, particularly for companies with significant international exposure or operations. Saylor notes that Bitcoin's decentralized nature and lack of reliance on any particular country or government may make it a better hedge against geopolitical risk.