Yes but the risk tied to corporate activities is also very real. If Microstrategy gets in trouble for one thing or another, or if something happens to Saylor, it will impact the stock price. MSTR might go down while Bitcoin goes up!

It’s the same thing if you buy miners. If one of them run into regulatory hurdles then the stock price will go down.

You bear additional risk when buying these companies. It’s not necessarily a bad thing as any company you buy shares of has similar risks, but it’s just something to be aware of for “Bitcoin proxy” stocks.