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MSTR out Performing BTC, Divergence when BTC ETFs Launched

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I'm Bullish on BTC in general, hold it and other cryptos.
However the divergence in price action on MSTR vs BTC had a massive shift when the BTC ETFs hit the markets.

Makes me wonder if MSTR could be considered a Leveraged BTC long. like a 2x or 3x ETF

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