On the All Things Markets podcast, Scaramucci and Novogratz dissected Saylor’s strategy, the former waxing poetic about quarterly dividends while the latter, with the grim precision of a man counting his last rubles, warned of leverage’s insidious grip. “A sharp drop in BTC,” Novogratz intoned, “would inevitably gnaw at Saylor’s margin of safety,” as though Bitcoin were a fickle lover prone to sudden betrayal. Scaramucci, ever the jester, disclaimed his own holdings: “We don’t own those assets, but I thought it prudent to mention.” Prudent, or merely desperate for relevance?