TBH, I'm not sure why the Bitcoin community is high-fiving each other over this revelation.
I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. The more institutional corporate hodlers, the better. This is overall good news.
But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, Germany, England, etc). These guys have hundreds of millions $$$, if not billions $$$, at their disposal too. And the difference is that they don't have to make any public announcements, or get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. They can and will take up such positions covertly. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news.
Well i sort of see this as how you look at it.
Sure "bad actors" will take positions as well... after all Bitcoin is for all people. Even people that hate it? As it is said "Bitcoin is for enemies".
But I do NOT think MicroStrategy's position building had no effect on coins. It might have had less than it would at market. But what it did was pull liquid coins away from people selling them. There are 3X,XXX less of those now.
How could this be bad?
- Well selling pressure from miners could rise a little now assuming other whales are not in the background buying up OTC.
But that's just it. If this keeps happening then market prices will suddenly start to lok good even WITH slippage, and you know what happens then.
I do not see how we can play "there goes the neighborhood" when bad guys start buying... That's what this was designed for.