🚀 Strategy’s $MSTR flywheel now points to 3.9% of the $BTC network. MicroStrategy reaching that scale turns the stock into a giant reflexive BTC proxy: equity buyers feed the treasury narrative, treasury size feeds attention, and attention can feed more equity demand. Concentration risk gets louder at the same time. Shorts and “clean BTC exposure only” allocators are under pressure if the market keeps rewarding the wrapper. 🌀 Is the crowd underpricing how much BTC attention can get pulled into one public-company balance sheet? #MSTR #Bitcoin