BlackRock IBIT And MicroStrategy Show Two Very Different Ways To Accumulate Bitcoin

BlackRock’s IBIT and MicroStrategy are both huge Bitcoin accumulation stories, but they are not doing the same thing, and that distinction matters more as the numbers get bigger.
IBIT gathers Bitcoin passively through ETF demand. Investors buy shares, the fund creates exposure, and Bitcoin flows into the product through the ETF mechanism. MicroStrategy, by contrast, actively raises capital, including debt and preferred equity, to buy Bitcoin for its corporate treasury.
Both roads lead to l