The $1.76 Billion Confession: Why Strategy's Pivot to Preferred Shares Is a Narrative-Decay Event
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Fear
Market Sentiment
Improves data availability sampling efficiency
Block reward reduced to 3.125 BTC
92 million ARB released
Independent validator client goes live on mainnet
Raises validator limit and account abstraction
Block reward halving event
Team and early investor shares released
Circulating supply increases by about 2%
Bitcoin Season