Svmuu News: Ki Young Ju, founder of CryptoQuant, wrote that the biggest risk for Bitcoin is not a crash, but long-term stagnation. Saylor’s STRC structure truly becomes dangerous not when Bitcoin simply crashes, but when Bitcoin spends years trading sideways and the bear market persists for an extended period. If the market still believes in the next bull run, a sharp pullback can be weathered. But prolonged stagnation would erode the narrative, weaken demand, compress the MSTR premium, and make it difficult to sustain Saylor’s financing machine.Ki Young Ju stated that Saylor’s real challenge is not merely to buy more Bitcoin, but to provide the market with new reasons to believe. Ki Young Ju pointed out that, contrary to the “digital gold” narrative, Bitcoin’s performance tends to resemble that of a tech stock.