The point is that the more aggressive 21 Capital is, the more difficult it is to catch up with Strategy due to the increased price pressure.
The less aggressive, the less momentum they gather with investors.
For them, the playbook is relatively narrow, and execution is critical.
Let's also not forget that Cantor Fidgerald invested in Q4 last year $1B in MSTR. I don't think they are going to unwind that position lightly. If they thought XXI was going to outperform MSTR they would dump the position right now and move that money into XXI but it looks like they are going to hold shares in the Coke and Pepsico of bitcoin.
Even though companies, governments and/or rich people are engaging in hoarding of bitcoin practices, it still seems that many of us are going to be better off to make sure that we have our own bitcoin stashes, even if we might choose to invest some percentage of our bitcoin holdings (that we would not be holding) into 3rd parties who are holding them and even potentially leveraging various debt systems to accumulate more bitcoin for themselves.
Right. The best course of action for an individual investor is to manage your private keys. If you want to invest a little bit in XXI or MSTR, or if you want to use like 5% of your stash to get bitcoin-backed loans or some yield I think it is OK.