🫠 AGAIN - SAYLOR DOES NOT MOVE THE BITCOIN PRICE!
@leadlagreport sums up the mood: "They're margin‑calling Saylor, right, folks?"
@rektmando calculates: "900 million cash against a 1.7 billion annual dividend obligation. He obviously can’t sell any Bitcoin. He has three months left. That’s now a time bomb."
Then the mood flips.
@GrantCardone replies dryly: "Saylor sold 32 out of more than 843,000 BTC. That’s 0.000037 percent of his holdings. And Bitcoiners are losing their minds."
@JoeConsorti adds: "Bitcoin isn’t falling below 60,000 because Saylor sold 32 BTC. It’s falling because in twelve months 19 trillion of new AI market cap was created."
And in the middle stands the one question nobody has answered cleanly. @RealJackPoor: "Saylor buys a billion in Bitcoin. No price reaction. He sells 2.5 million. Bitcoin dumps hard. Can anyone explain that to me?"
Here is the explanation.
Both camps treat Saylor as a price maker. In reality the #Bitcoin price is set on the perpetual market, and the spot market only follows. Futures volume is on average 7 times higher than spot. Where the leverage sits, the direction sits.
Therefore Saylor’s billion sinks in the spot market, and his sale sinks there as well.
The crash was driven by deleveraging. Row after row of forced liquidated longs emptied the perp book – the 32 sold coins are just noise. That $BTC is now 50 percent below its ATH because of this mechanism, and funding remains positive. Longs actively pay to stay in. That’s what a market looks like where leverage dictates direction.
@cryptorover shouts back: "THE PEG IS BROKEN. $STRC below 100 means Strategy buys no new Bitcoin. The biggest buyer has gone silent."
He’s even right. If financing disappears over the equity premium, Strategy can fall out as a buyer. It’s just the demand side that decides over quarters.
Whether Saylor will ever sell himself is on another page. It can happen. The price is still set by leverage – his sale runs in spot and sinks there, just like his purchases did before.
As long as money is created on the perp market, Saylor’s wallet is the wrong address for the answer.
