What about IBIT or FBTC, same thing I guess? Not a utxo so fiat?

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Better because those might have in kind redemption in the future. GBTC got the short straw on that deal.

So you don’t own equities?

I own S&P for lack of better options/ stranded money. Loaned against it. Can't liquidate it.

Mstr could be included in s&p 500 next summer… so then you can own it. 😋