It’s really dead simple when you think about it in these terms. MSTR is outperforming because they buy and hold the Bitcoin whereas the other two entities sell it. https://image.nostr.build/2033d70e1b68eed46628605857ba082e4f4c561cfa6e6cb88505c746d1a9b7f7.jpg
On Aug. 11, 2020, Saylor announced that MicroStrategy was making a long-term investment of $250 million in Bitcoin. Looks like that investment is paying off. #BTC https://image.nostr.build/86d7c3c03a5fb89e7e5e2b7a2b7fa97cecbea610389b14c23d5c965d35fcf822.jpg
Did u watch that doc lol it’s solid
Huh? MARA does not sell bitcoin. It’s been buying too… It just doesn’t have as much as MSTR. But it’s the SECOND largest holder.
All miners sell bitcoin to one degree or another. They have to cover their opex
MARA went full HODL in July, and has been over periods. I just think this meme would be stronger with any other miner. MARA is actively buying bitcoin at more scale than anyone but MSTR. Makes Semler and Metaplanet look like chumps. I would put IREN in the meme personally.
I’m not that familiar with Mara’s financials in particular, but the point stands that miners sell. Mara will likely sell again in the future at some point.