Unpopular Bitcoin take: Why buy $MSTR, $STRC or other financial products engineered around Bitcoin when you can just buy $BTC? $BTC = the underlying decentralized, scarce asset with a 21M supply cap. $MSTR = leveraged corporate Bitcoin exposure with equity dilution, debt and premium/discount risk. $STRC = a preferred security offering yield, but with issuer, dividend and capital structure risk. One is the asset. The others are financial instruments built around it. Why introduce corporate risk, counterparty risk and complex capital structures into an investment thesis that starts with Bitcoin? Are you buying Bitcoin… Or are you buying Wall Street’s financial engineering of Bitcoin? Sometimes the original asset is the alpha. 🤷♂️
ZackFromSubwayShare
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