Yesterday, I listened to an episode of @fishkiller's podcast from some time ago, discussing micro-strategies and gold, and I found it very inspiring.

There was one sentence that resonated deeply: "Michael Saylor knows that what he is promoting to investors is the volatility of stocks, along with a higher leverage compared to BTC spot, more convenient purchase access, and opportunities for premium arbitrage."

In simple terms, promoting an asset requires some reasons, which can generally be abstracted into a few Greek letters, as well as its inherent cultural attributes. If a KOL promotes an asset without a perspective, it is highly likely that the founder lacked uniqueness when constructing the asset, making it quite normal for the underwriter to struggle to sell it.

Choose targets that can be promoted, that can be promoted long-term; choose your heroes and enemies.