Thread by @ninos_mansor

I would be absolutely terrified to hold any form of ETH short right now. Here's a thought experiment for how reflexive and fragile market psychology is right now.

Imagine Saylor divested 10% of his treasury into ETH. I'm not saying he will - but what would happen if he did?

It's probably not going to be Saylor, but somebody is going to do it. If not the leading BTC Stonk, a blue chip tech company. If not a blue chip tech company, a brave insurance or pension fund. If not 10%, 5%.

Who is first or how large their position is ultimately won't matter. The moment a *credible* treasury allocates into ETH, the market suddenly flicks a switch and gaps like it hasn't done in years.

Shorts clobbered and reflexive narratives crystallised - overnight.

Like the Halving story after PTJ, ETH's supply sink narrative will very quickly catapult into mainstream credibility & consciousness.

After this first treasury short squeeze, the EIP1559 narrative graduates from CT obscurity to the next Morgan Stanley / Goldman report.

Just think about how contrarian it was to think the Halving was a thing before PTJ. It was all about EMH, n=2, risk asset, etc.

Same thing here. It's still highly contrarian to be bullish on ETH based on these new monetary narratives. But after its PTJ moment, that will change.

This is why crypto is the best place to be as an investor & trader. Narratives are constantly being overlooked and it only ever takes a single fuse for market dynamics to change completely - to go from totally ignored to plastered everywhere in less than a week.