বিটকয়েন অর্থায়নের রহস্য

$MSTR: Bitcoin-এর ‘দৃশ্যহীন’আধিপত্য

আমি \(MSTR-এর 580k+ BTC �ধিগ্রহণ (5বছর) দেখলাম—\)40.8B, BTC-এর 2.9%। Cash? No. Stock!

$MSTR vs BTC: Keno ki?

পেনশন/ব্যাঙ্ক? Only stocks/bonds. BTC? Not allowed.

Saylor-এর insight: BTC as a legal asset in a regulated stock.

Now institutions can own BTC legally—without breaking rules.

‘Mandate Arbitrage’: The Real Edge

$MSTR trades at premium—because demand > supply.

For two years: 134% returns in BTC terms. Even after ETFs, still works—most mutual funds can’t buy them.

Capital Group owns 12% of $MSTR—not for stock trading—but for access to BTC.

This is not speculation—it’s systemic arbitrage.

Debt ≠ Danger; It’s Leverage (If You Know How)

Credit card debt? High risk. The kind Strategy uses? Long-term interest-only loans—no collateral seizure even if price crashes.

Model like mortgage: pay interest monthly; repay later or refinance.

Key: BTC appreciates faster than borrowing cost → every dollar buys more BTC over time. The real risk isn’t default—it’s losing the edge.

The Hidden Engine Behind the Bull Run

When people say “whales are buying”, they miss this: major whales buy \(MSTR as proxy access to BTC. This creates feedback loop: demand ↑ → \)MSTR price ↑ → premium ↑ → more capital → more BTC held → higher value → stronger premium… Self-sustaining—for now. The real fear? Not collapse—but imitation: multiple “vault companies” copying this model… will they charge premiums too? or drown in debt chasing scale? The crisis won’t come from Strategy—but from copycats ignoring the rulebook: you don’t win by betting on bull runs—you win by solving systemic friction. So next time someone says “$MSTR is risky”, ask: “Who exactly is exposed to Bitcoin today—and how?” because while markets scream volatility… some investors are quietly building wealth through structure—not speculation.