0x3dC has been shorting MSTR on Hyperliquid and already made $1.2 million. This guy has short positions from MSTR to almost all assets, with total unrealized profits close to $4 million. The problem is that Saylor could start a buyback at any moment, and the shorts would face a wave of forced liquidation risk. If he stubbornly holds until it goes to zero, the only thing he’s eating is time value, not fundamentals. This kind of extreme one-way bet relies more on luck than on the strategy itself, so it isn’t worth worship.