Micro strategy is off exchange leverage, but it is a big mistake to believe that it will not affect the coin price! When the stock price of a micro strategy bond drops to a certain level, the holder can request the micro strategy to buy it back. If the micro strategy does not have enough cash, it must sell Bitcoin. Moreover, the belief that it's still early is actually a disregard for emotions: if BTC starts to fall, the stock price will fall even more, and the possibility of redemption will lead to BTC falling and the stock price falling. Both negative and positive news have the greatest impact on the expected part.