There are 3 types of Bitcoin company exposure:
1. Strategic Attackers
Companies that issue fiat debt to buy BTC.
Think:Strategy, Metaplanet..
2. Bitcoin-Native Builders
Companies built on Bitcoin, for Bitcoin.
think:XXl .
3. Conservative Accumulators
Companies like IM8 that stack 1 BTC/day with zero debt.
For me, the last model wins .


