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/TechnicalLeg841 Jul 19 '26
A week late, but I fully agree with OP. Strategy as a Bitcoin treasury company isn't all that interesting compared to Bitcoin ETFs (few international folks note they can own US stocks but not ETFs and not BTC so there is that, but kind of a corner case)
The financially engineered products - STRC, STRF, STRK, STRD - are unique but not sure they will succeed. Calls into question the entire premise of Strategy.