As a non American I would argue that, short term, it’s smart to have a small amount of Microstrategy stock.

Why? Because it’s both a hedge towards your native currency (dollar milkshake theory etc) as well as a direct exposure to Bitcoin (that currently is bought at a rebate).

Lastly, their allocation most likely increases over over time which gives you a higher BTC/stock.

With that being said, the third party risks are exponentially higher. Even tough Silvergate seems to be a nothingburger for MSTR, it still serves as a good reminder of why we want self custody.

Agree/disagree?