It’s a convenient position for bitcoiners to point to 2016 and say that we’re tracking but none of the prior cycles have been comparable to each other. I don’t think we’re tracking anything this cycle. We’re setting a new charter, regardless.

And COIN using MSTR (among other large HODL stacks) to fractional reserve hundreds of thousands of bitcoin will ensure we have a muted “bull market.” Frustrating retail bitcoiners and allowing industry and special interests to establish positions they otherwise couldn’t.