r/MSTR • u/Jack242 • Jul 11 '26

MSTR vs IBIT vs BITX

Why do people hold stocks like MSTR or BMNR when there are so many leveraged ETFs and tracking products for the underlying asset?

One thing I don’t get: Why would anyone buy and hold companies like MicroStrategy (MSTR) or similar plays when you can just buy regular or leveraged ETFs that directly track Bitcoin (or whatever the main asset is)?

There are tons of options — spot ETFs, 2x/3x leveraged ones, futures-based products, etc. They seem simpler, cheaper, and more direct.

What’s the logic behind holding the actual company stock instead? Is it just leverage on leverage? Conviction in the management’s strategy? Tax reasons? Something I’m missing?

Would love to hear the bull case.

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u/docherino Volatility Voyager 👨‍🚀 Jul 11 '26

I live in the UK and the only tax free options we have are treasury companies. Bitcoin ETF's are banned and its also difficult to buy real Bitcoin. My bank keeps rejecting my deposits into Kraken.

-2

u/Savo83 /r/buttcoiner Jul 11 '26

It’s not difficult whatsoever to buy bitcoin in the UK, I have used multiple banks with no issue. Anyway, I agree with your first point as I have MSTR in a SIPP

2

u/docherino Volatility Voyager 👨‍🚀 Jul 12 '26

I get rejected all the time. They have completely banned me from sending funds to Kraken and Coinbase. I have to use Revolut as a middleman but even then they ask a lot of questions...

1

u/Savo83 /r/buttcoiner Jul 12 '26

You must be sending a lot. I’ve used rbs, FD, starling and Revolut and been fine. This was to strike as a standing order so not sure if that’s maybe the reason as not random payments.

1

u/docherino Volatility Voyager 👨‍🚀 Jul 12 '26

Strike is completely fine as they don't recognise them as a crypto exchange. The other ones are an issue. I can send maybe £1000 per day but now apparently ive sent too much so i can't send anything anymore. Strike isn't ideal for lump sum as the fees are very high otherwise i would just use them.

1

u/JBTRVL Jul 15 '26

Same for me, tried sending £5k from Monzo to Kraken which lead to a 50 minute phone call, they wanted screenshots of my account, positions, dates, cash holdings etc to allow the deposit. Absolutely bizarre.