Why does it feel like the bear market isn't over yet? ┈➤ Let's start with some casual talk Logically, every bear market should teach us something. From the last one, we learned that altcoins were just a way to cut losses. But now, looking at it, it's still MEME, the narrative hasn't changed at all? Could it be that we haven't learned anything this round? ┈➤ Now for a serious point Another serious point to make is that we are currently in a wave of market activity brought on by the midterm elections. The US Congress is up for re-election: the entire House of Representatives and one-third of the Senate. Although both chambers are up for election, the Treasury, Labor, Commerce, and 15 other cabinet departments haven't changed leadership; Trump is still in charge. Although the Federal Reserve, SEC, and other committees are officially independent, most officials probably wouldn't want to undermine Trump at this particular time. The current majority party (Republicans) is working hard to create prosperity and leave voters with a good final impression to win the midterm elections. However, this prosperity is temporary and not a true reflection of the US economy's health. Of course, the midterm election campaign might just be getting started: Maybe new candidates have already begun their efforts, but current representatives will return to their states in late September to focus on election work. The Treasury's previously proposed accelerated long-term bond purchases will also only begin on September 9.

Brothers!! I finally understand why MicroStrategy sold BTC at the bottom! Damn, it's really damn! Here's the deal: Brother Feng bought $STRC, then received dividends, which were $5.64 in half a month. He holds 11.27581758 shares, each with a par value of $100. The annualized yield is 5.64 / (11.27581758 * 100) * 24 = 12%. This is the STRC dividend yield, and surprisingly, it doesn't incur tax on preferred stock dividends. Brother Feng did some research and found out that according to US regulations, if a listed company has no distributable profits, then preferred stock dividends are not taxed! When MicroStrategy sells BTC below cost, it results in realized losses, so preferred shareholders don't have to pay taxes at that time. Now BTC has exceeded MicroStrategy's cost price, but even if MicroStrategy sells BTC now, the profits must first cover previous losses; only the remainder might be distributable profits. So even if MicroStrategy is profitable, as long as it doesn't sell much BTC, STRC shareholders can still avoid taxes and directly receive a 12% annualized yield. Saylor was actually fighting for the interests of STRC shareholders, and the source of this benefit is not paid by $MSTR holders, nor borne by BTC holders, but by the US Treasury losing tax revenue. At the same time, this also means that after MicroStrategy becomes profitable, the amount of BTC it is willing to sell is very small. Doesn't it suddenly feel like double happiness?