#数字资产市场洞察 $BTC $ETH $BNB

I recently saw Michael Saylor's words at the Miami Economic Club, where he said, "We buy Bitcoin with money we can't afford to lose"—this statement deserves careful consideration.

Back in 2020, Saylor was among the first to deploy, and Bitcoin's price surged from $10,000 to $100,000, a period that was truly unparalleled. At that time, positive news was being released in quick succession: spot ETF approvals, mainstream financial recognition, accelerated application adoption—everything seemed to be heading in a positive direction.

But now the game has changed. According to CoinMarketCap data, there are nearly 28 million tokens in the market today, which is completely different from the era when Bitcoin dominated since 2009. Capital is dispersed, hot topics rotate, and the previous concentration has long been dispersed. The logic that once led the market no longer works, and the market's bottom cards are all laid out, with less room for incremental capital to take over.

So the underlying message of Saylor's words might be: don't gamble with money you can't afford to lose. Poor risk management means the downside space is unpredictable.