$CEP shareholders will represent a low percent of total ownership of $XXI (2.7%). If you translate that to their BTC, here's the relative mNAVs. pretty terrible investment imho View quoted note →

there is soon be even more etfs just for option trading strategies for spacs that attempt to replicate the mstr playbook the trade will become very very crowded

if you wanna get any really useful, concise and well cited research, a web enable deepseek instance is unmatched 

https://a.co/d/ctKarLf Empire of silver is a great read on the history of money and currency in china "don't choose silver when the world chooses gold." "don't choose gold when the world chooses bitcoin"