CORNYVERSE

There’s a strategy to “buy Bitcoin by buying a company.” At the center of that approach is Strategy Inc (ticker: MSTR) , formerly MicroStrategy . This post explains why some call MSTR a “corporate Bitcoin ETF,” and breaks down the rally drivers and investment angles in four parts—with a U.S. investor lens. 🎯 Key Takeaways ✅ Leveraged Bitcoin proxy: MSTR tends to rise and fall with BTC, amplified by financing (debt & preferreds). Not an ETF—an operating company with Bitcoin-centric treasury. ✅ New accounting boosts optics: From 2025, U.S. GAAP allows fair-value accounting for crypto; unrealized BTC gains/losses now flow through earnings. ✅ Income sleeve via STRC: Strategy launched Nasdaq-listed STRC , a variable-rate perpetual preferred with initial 9% annualized monthly payout (later lifted to 10%). ✅ Scale matte...