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