We've already been over this. It is small leverage on the downside too, except to someone who is overly concerned with specifically static percentage of ownership and not with value of that ownership. When the price declines by 50%, your holding (at max HBD supply) is diluted by 5% due to inflation. When the price increases by 100%, your holding (again assuming max supply) is enhanced by deflation of 5%. 50% decrease and 100% increase are inverses of each other, so this is not skewed.

I also explained how you can use a small side holding of fiat or HBD to reverse out the leverage (when the price decreases by 50%, you use some of your cash holding, which does not so decline in value, to buy an additional 5%, reversing the dilution of your stake). How can something which is trivially hedged away by holding a little cash be a big deal?

Also, I never referenced market cap, I only referenced price.