Meaning, they collude with each other just to bring a certain company down? Indeed, that sounds relatively unlikely.
The primary driver would be of course profit by short selling Bitcoin and the stocks of these companies. Not "just to bring them down". Just to clarify. Basically how short squeezes work, but the opposite. Or take Michael Burry, the guy who predicted the 2007/2008 financial crash since 2005 or so and made fortunes with his small hedge fond.
Of course there has to be a weakness in the business model, and a chance to exploit it, i.e. when some of these stocks lose demand. I personally am not too convinced of their business model being sustainable forever. But I don't expect neither a crash being 100% sure for the next 25 years or so (I think 50/50) neither do I expect the crash to happen in the next bear already, but there is a small possibility.
At most, if a chain reaction follows, then something similar to the Terra/LUNA effect on Bitcoin might happen. The price lost around 50%. But that was temporary. The market was able to fully recover a year later.
I agree. Even if Saylor falls this would not be the death of Bitcoin. But my dreams of a volatility reduction would have to wait then a few years more
