What if MSTR turns out to be this cycle’s FTX…

Because he's trying to become a regulated investment bank. You cant spout off anti fed rhetoric now. Why would a bank support self custody? Saylor is playing the game and politricking to get the banking license. Its no longer hold and control your own wealth. Now he will say let me take care of that for you. Self custody and multi sig is too difficult. Funny thing is that we may soon seen FDIC insured bitcoin.

MSTR has felt like this cycles ETH.

This is a good explanation. Saylor isn't your average bitcoiner. There's more to it than he's letting on

This could be a good thing. Saylor Bank would be a better place for companies to put their btc than coinbase. Or at least more options reduce coinbase's ability to do fuquery