CZ: Most "crypto-stock" companies will need to experience at least one bear market . In a recent speech, CZ emphasized that while the market is currently in a bull market, it's important to recognize that markets are cyclical and will inevitably experience a bear market. During such periods, prices will fluctuate dramatically, and stock prices may fall.

He pointed out that most "cryptocurrency stocks" (cryptocurrency treasury companies) must experience at least one bear market to truly gain experience and flatten their costs by continuing to hold or increase their holdings during declines, resulting in a lower average price. Take MicroStrategy as an example. They experienced a very painful process in the first cycle, but over time, their average holding cost gradually decreased, and they are now benefiting from it.