Oddbean new post about login | logout Many say that once a #Bitcoin ETF is available, there will be no demand for proxies like $MSTR. I disagree. A relevant comparison is between index funds and Berkshire Hathaway. Index funds track the S&P 500, while Berkshire is akin to a stock picker aiming to outperform the indexes. Similarly, $MSTR could outperform a Bitcoin ETF as it offers strategic advantages like intelligent leverage and business opportunities in emerging technologies, mirroring how Berkshire outperforms index funds through strategic stock selections and business operations.