Techdamentals
Oct 30, 12:56 PM
$BITX This ETF targets twice bitcoin's daily return, giving leveraged exposure to the same asset Strategy holds, 848,517 coins, without Strategy's preferred stock, convertible debt or share-dilution dynamics layered on top.
Because it resets daily, its longer-term return can differ meaningfully from simply doubling bitcoin's move over that period, a mechanical feature of how daily-reset leveraged funds are built.
Strategy's BTC Yield, its own measure of bitcoin per share, read negative 3.7% this year, a dilution effect that has no equivalent in a fund that scales directly with the bitcoin price rather than a company's share count.
Full explainer, plain English: https://youtu.be/KihM8vYe-oo
Educational, not advice.
https://techdamentals.com/newsletter/is-microstrategy-worth-more-than-its-bitcoin?ref=st
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