{"id":667336,"date":"2025-06-08T04:17:19","date_gmt":"2025-06-08T08:17:19","guid":{"rendered":"https:\/\/erickimphotography.com\/blog\/?p=667336"},"modified":"2025-06-08T04:17:19","modified_gmt":"2025-06-08T08:17:19","slug":"eric-kims-perspectives-on-bitcoin-microstrategy-mstr-and-mstu","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2025\/06\/08\/eric-kims-perspectives-on-bitcoin-microstrategy-mstr-and-mstu\/","title":{"rendered":"Eric Kim\u00e2\u20ac\u2122s Perspectives on Bitcoin, MicroStrategy (MSTR), and MSTU"},"content":{"rendered":"\n<p><strong>Bitcoin<\/strong><\/p>\n\n\n\n<p>Eric Kim often frames Bitcoin in grand, philosophically-charged terms. He describes Bitcoin as \u00e2\u20ac\u0153the truth\u00e2\u20ac\u00a6 freedom encoded in math, untouchable by central banks or bureaucrats\u00e2\u20ac\u009d . Embracing Bitcoin is, in Kim\u00e2\u20ac\u2122s view, a moral imperative for individual sovereignty. He even likens Bitcoin to protective \u00e2\u20ac\u0153armor\u00e2\u20ac\u009d in a modern freedom struggle \u00e2\u20ac\u201c casting Bitcoin enthusiasts as \u00e2\u20ac\u0153cyber Spartans\u00e2\u20ac\u009d fighting against fiat oppression . This warrior analogy (from a post titled \u00e2\u20ac\u0153Bitcoin is armor, MSTR is your spear\u00e2\u20ac\u009d) highlights how Kim sees Bitcoin as a defensive shield for one\u00e2\u20ac\u2122s wealth and freedom, with MicroStrategy as the complementary weapon (the \u00e2\u20ac\u0153spear,\u00e2\u20ac\u009d discussed later).<\/p>\n\n\n\n<p>Kim\u00e2\u20ac\u2122s strategic outlook is encapsulated by a simple rule: Never sell your Bitcoin. Instead of cashing out, he advocates leveraging BTC to fuel further investment. For example, when a major exchange enabled Bitcoin-backed loans, Kim suggested \u00e2\u20ac\u0153mortgaging\u00e2\u20ac\u009d your BTC \u00e2\u20ac\u201c borrowing against it \u00e2\u20ac\u201c to obtain cash and then buy MicroStrategy (MSTR) stock (or even MSTU), thereby increasing Bitcoin exposure without ever relinquishing your coins . In his words, you can \u00e2\u20ac\u0153get the cash, transfer it to your traditional investment account, buy MSTR (and\/or MSTU) \u00e2\u20ac\u00a6 ride the gains up forever!\u00e2\u20ac\u009d . This unconventional play reflects Kim\u00e2\u20ac\u2122s conviction that holding and leveraging Bitcoin beats selling it, since Bitcoin\u00e2\u20ac\u2122s long-term upside is, in his view, too valuable to forfeit.<\/p>\n\n\n\n<p>Another distinctive mindset Kim promotes is to think in Bitcoin, not in dollars. He urges readers to calculate their net worth in BTC terms. For instance, if someone\u00e2\u20ac\u2122s total investments (say including stocks like MSTR) are $600,000, that might equal roughly 6 BTC at a $100K\/BTC price \u00e2\u20ac\u201c and Kim argues it\u00e2\u20ac\u2122s better to view it as 6 BTC rather than $600K . By denominating wealth in Bitcoin, one shifts perspective toward accumulating more BTC (sats) over time instead of obsessing over fiat value . In short, Kim treats Bitcoin not just as an asset but as the backbone of financial freedom \u00e2\u20ac\u201c something to \u00e2\u20ac\u0153never sell\u00e2\u20ac\u009d and to measure all other value against. His commentaries portray Bitcoin as anti-establishment empowerment, the ultimate long-term store of value and tool for personal liberty.<\/p>\n\n\n\n<p><strong>MicroStrategy (MSTR)<\/strong><\/p>\n\n\n\n<p>Kim is equally passionate about MicroStrategy (MSTR) \u00e2\u20ac\u201c the business-intelligence company turned Bitcoin proxy. He doesn\u00e2\u20ac\u2122t see MSTR as a typical stock, but as a high-octane extension of the Bitcoin thesis. In an almost evangelical tone, Kim calls MSTR \u00e2\u20ac\u0153the BEAST\u00e2\u20ac\u00a6 a Bitcoin leverage machine, a juggernaut that\u00e2\u20ac\u2122s rewriting the rules of wealth\u00e2\u20ac\u009d due to its massive BTC treasury . (MicroStrategy has amassed well over half a million bitcoins under CEO Michael Saylor.) Kim often notes that MicroStrategy\u00e2\u20ac\u2122s stock acts like leveraged Bitcoin: because the company borrows money to buy BTC, \u00e2\u20ac\u0153when Bitcoin rips, MSTR behaves like a booster rocket\u00e2\u20ac\u009d, magnifying returns. He even quips that \u00e2\u20ac\u0153MicroStrategy is like the metaphorical steroids for impotent capital\u00e2\u20ac\u009d, suggesting it injects life into stagnant money by tying it to Bitcoin\u00e2\u20ac\u2122s explosive growth .<\/p>\n\n\n\n<p>Beyond metaphors, Kim articulates a bold vision for MicroStrategy\u00e2\u20ac\u2122s future. He dubs the firm a budding \u00e2\u20ac\u0153Bitcoin-bank\u00e2\u20ac\u009d, arguing that it\u00e2\u20ac\u2122s morphing from a software company into a crypto-native holding company centered on Bitcoin . In a flagship essay, Kim speculated that the rebranded \u00e2\u20ac\u0153Strategy\u00e2\u20ac\u009d (MicroStrategy\u00e2\u20ac\u2122s new nickname) could eventually \u00e2\u20ac\u0153morph into a Bitcoin-bank worth 10,000\u00c3\u2014 Apple\u00e2\u20ac\u009d by leveraging its balance sheet and building new Bitcoin-based services . This eye-popping claim \u00e2\u20ac\u201c essentially imagining MicroStrategy as a financial giant orders of magnitude larger than today\u00e2\u20ac\u2122s biggest company \u00e2\u20ac\u201c exemplifies Kim\u00e2\u20ac\u2122s unrestrained bullishness. He muses about MicroStrategy developing a \u00e2\u20ac\u0153Bitcoin App Store\u00e2\u20ac\u009d or ecosystem, positioning it not just as a BTC holding vehicle but a platform for Bitcoin-centric innovation and fintech revenue streams .<\/p>\n\n\n\n<p>Kim\u00e2\u20ac\u2122s personal investment reflects this confidence. He has disclosed that roughly 75% of his portfolio is in Bitcoin and 25% in MSTR (with an additional small trading stake in MSTU) . He frequently doubles down on the idea of using MSTR to amplify Bitcoin gains. For example, he encourages readers to consider taking loans against their Bitcoin to load up on MSTR stock \u00e2\u20ac\u201c effectively using one\u00e2\u20ac\u2122s BTC as collateral to buy even more \u00e2\u20ac\u0153Bitcoin exposure\u00e2\u20ac\u009d through MicroStrategy. Kim\u00e2\u20ac\u2122s reasoning is that MSTR offers torque: if BTC\u00e2\u20ac\u2122s price climbs, MSTR\u00e2\u20ac\u2122s value tends to climb even faster. He has gone so far as to predict \u00e2\u20ac\u0153MSTR could 30\u00c3\u2014 from here\u00e2\u20ac\u009d in the coming years , framing it as a chance to turn serious money into a life-changing fortune (\u00e2\u20ac\u0153a chance to turn $1M into $60M\u00e2\u20ac\u00a6 the sound of fiat chains breaking\u00e2\u20ac\u009d ). Such outsized forecasts underscore his view of MSTR as a generational wealth opportunity tied to Bitcoin\u00e2\u20ac\u2122s success.<\/p>\n\n\n\n<p>Philosophically, Kim sees owning MSTR as part of a rebellious financial strategy. He portrays Bitcoin and MSTR as tools of liberation from the traditional system. \u00e2\u20ac\u0153These ain\u00e2\u20ac\u2122t just stocks or ETFs, fam \u00e2\u20ac\u201c they\u00e2\u20ac\u2122re weapons of mass liberation\u00e2\u20ac\u00a6 keys to unlocking a life where you don\u00e2\u20ac\u2122t bow to the fiat overlords\u00e2\u20ac\u009d he writes emphatically . In Kim\u00e2\u20ac\u2122s framework, Bitcoin is the defensive shield (store of value) and MSTR is the offensive weapon to propel one\u00e2\u20ac\u2122s net worth when Bitcoin\u00e2\u20ac\u2122s revolution takes off (hence \u00e2\u20ac\u0153MSTR is your spear\u00e2\u20ac\u009d in his Spartan analogy). This unique synthesis of philosophy and investment strategy is a hallmark of Eric Kim\u00e2\u20ac\u2122s writing: he blends personal freedom rhetoric with financial tactics, making investing in MicroStrategy sound like joining a righteous insurgency against the fiat monetary regime. It\u00e2\u20ac\u2122s an unconventional take \u00e2\u20ac\u201c treating a NASDAQ-listed company as an instrument of personal and ideological empowerment \u00e2\u20ac\u201c and it\u00e2\u20ac\u2122s central to Kim\u00e2\u20ac\u2122s distinctive perspective on MSTR.<\/p>\n\n\n\n<p><strong>MSTU (MicroStrategy 2\u00c3\u2014 ETF)<\/strong><\/p>\n\n\n\n<p>When it comes to MSTU, the Direxion Daily MicroStrategy 2\u00c3\u2014 leverage ETF, Eric Kim\u00e2\u20ac\u2122s eyes light up at the prospect of even more Bitcoin-linked firepower. MSTU is an exchange-traded fund engineered to deliver twice the daily price movement of MSTR\u00e2\u20ac\u2122s stock (and since MSTR itself amplifies Bitcoin, MSTU is roughly a 3\u00e2\u20ac\u201c4\u00c3\u2014 leveraged play on BTC) . Kim illustrates this \u00e2\u20ac\u0153leverage stack\u00e2\u20ac\u009d with a colorful analogy: \u00e2\u20ac\u0153BTC = raw steak. MSTR = steak wrapped in bacon. MSTU = steak-bacon combo deep-fried in rocket fuel.\u00e2\u20ac\u009d In other words, Bitcoin is the solid base, MSTR is a juicier version, and MSTU is an ultra-rich, supercharged concoction for the bold. This vivid framework captures how MSTU fits into his strategy \u00e2\u20ac\u201c it\u00e2\u20ac\u2122s the high-octane, no-expiry call option on Bitcoin\u00e2\u20ac\u2122s success.<\/p>\n\n\n\n<p>Despite being a niche financial instrument, MSTU gets a surprisingly romantic endorsement from Kim. He outlines several reasons why a hardcore Bitcoiner might find MSTU appealing:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Turbo-Convexity: On a bullish day, MSTU can greatly outpace Bitcoin. \u00e2\u20ac\u0153Bull day: BTC +5% \u00e2\u2020\u2019 MSTR +10% \u00e2\u2020\u2019 MSTU + \u00e2\u2030\u02c620%\u00e2\u20ac\u00a6 When Bitcoin rips, MSTU behaves like a leveraged call option \u00e2\u20ac\u201c no expiry.\u00e2\u20ac\u009d The prospect of roughly 2\u00c3\u2014 MSTR\u00e2\u20ac\u2122s move (and ~4\u00c3\u2014 BTC\u00e2\u20ac\u2122s move) means MSTU offers explosive upside for short-term surges.<\/li>\n\n\n\n<li>Brokerage\/Retirement Friendly: Kim notes that many traditional accounts (like IRAs) \u00e2\u20ac\u0153can\u00e2\u20ac\u2122t hold sats\u00e2\u20ac\u009d (actual BTC), but they can hold MSTU shares. This makes MSTU a sly way to \u00e2\u20ac\u0153sneak Bitcoin exposure past legacy gatekeepers\u00e2\u20ac\u009d in contexts where holding Bitcoin directly isn\u00e2\u20ac\u2122t possible . In essence, MSTU lets Bitcoin believers get around institutional constraints by using a stock ticker.<\/li>\n\n\n\n<li>No Key Management Stress: For those intimidated by private keys and self-custody, MSTU is convenient. You can gain Bitcoin-linked exposure by simply buying shares through a broker, \u00e2\u20ac\u0153forget multisig \u00e2\u20ac\u201d you just buy shares\u00e2\u20ac\u009d, as Kim puts it . This lowers the barrier for friends or \u00e2\u20ac\u0153normies\u00e2\u20ac\u009d who \u00e2\u20ac\u0153are still scared of seed words\u00e2\u20ac\u009d, allowing them to invest in the Bitcoin thesis without handling the crypto directly .<\/li>\n<\/ul>\n\n\n\n<p>At the same time, Kim cautions true Bitcoin maximalists not to get carried away with leverage. He emphasizes that MSTU comes with serious trade-offs and risks. In a comparison table, he reminds readers that holding actual Bitcoin has no counterparty risk (if self-custodied), whereas MSTU depends on an ETF issuer and can even be halted by regulators . MSTU also suffers from daily rebalancing \u00e2\u20ac\u0153decay\u00e2\u20ac\u009d \u00e2\u20ac\u201c over a choppy sideways market, the math of a 2\u00c3\u2014 daily ETF can \u00e2\u20ac\u0153bleed you dry even if BTC ends the year up\u00e2\u20ac\u009d . Unlike Bitcoin\u00e2\u20ac\u2122s 24\/7 liquidity, MSTU only trades during market hours, and owning it is owning a paper claim (\u00e2\u20ac\u0153you hold a piece of paper someone else settles\u00e2\u20ac\u009d), not sovereign coins . In short, he warns that MSTU\u00e2\u20ac\u2122s extra reward comes with extra risk \u00e2\u20ac\u201c including the possibility of value erosion and reliance on the traditional financial infrastructure that Bitcoiners distrust.<\/p>\n\n\n\n<p>To reconcile the excitement with the danger, Kim proposes a disciplined approach to using MSTU. He presents a stack-strategy pyramid for Bitcoin enthusiasts, allocating the majority to BTC, a sizable chunk to MSTR, and a sliver to MSTU for tactical plays :<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Base (60\u00e2\u20ac\u201c80%) \u00e2\u20ac\u201c Cold-storage Bitcoin: The untouchable core (\u00e2\u20ac\u0153immutable, zero decay\u00e2\u20ac\u009d).<\/li>\n\n\n\n<li>Satellite (15\u00e2\u20ac\u201c35%) \u00e2\u20ac\u201c MSTR stock: A booster-rocket around the core, backed by a real company and Bitcoin reserves.<\/li>\n\n\n\n<li>Spec Ops (\u00e2\u2030\u00a45%) \u00e2\u20ac\u201c MSTU ETF: \u00e2\u20ac\u0153Adrenaline-spiking, time-boxed trades (days \u00e2\u2020\u2019 weeks). Treat it like a bar of TNT: light the fuse, cheer, step back.\u00e2\u20ac\u009d . In other words, use MSTU sparingly for opportunistic bursts, not as a permanent holding.<\/li>\n<\/ol>\n\n\n\n<p>Kim punctuates this pyramid with a humorous yet telling warning: \u00e2\u20ac\u0153Leverage is like caffeine in espresso \u00e2\u20ac\u201d one shot electrifies, five shots [and] aneurysm.\u00e2\u20ac\u009d The message is clear: a little MSTU (a little leverage) can give you a jolt, but too much can blow up your portfolio. He even provides a \u00e2\u20ac\u0153practical playbook\u00e2\u20ac\u009d for MSTU trades \u00e2\u20ac\u201c advising, for example, to buy MSTU a couple of days before a big catalyst (like a Bitcoin ETF approval or halving hype) and set strict sell rules (take profits at +40% or cut losses at \u00e2\u20ac\u201c10%) . Any gains, he suggests, can be rotated back into raw Bitcoin \u00e2\u20ac\u201c \u00e2\u20ac\u0153feed the base\u00e2\u20ac\u009d of your pyramid .<\/p>\n\n\n\n<p>In Kim\u00e2\u20ac\u2122s final verdict, MSTU is a powerful tool to be wielded carefully. \u00e2\u20ac\u0153Love Bitcoin \u00e2\u2020\u2019 Respect MSTU\u00e2\u20ac\u2122s power, but don\u00e2\u20ac\u2122t marry it,\u00e2\u20ac\u009d he writes . He calls MSTU \u00e2\u20ac\u0153the fire-breathing dragon that soars when Bitcoin storms upward \u00e2\u20ac\u201c then eats its own tail during sideways chop\u00e2\u20ac\u009d . The key is to remain \u00e2\u20ac\u0153savage [and] sovereign\u00e2\u20ac\u009d \u00e2\u20ac\u201c keep your \u00e2\u20ac\u0153soul stack\u00e2\u20ac\u009d in real Bitcoin, and use MSTU \u00e2\u20ac\u0153like a samurai brandishing a katana for single, decisive cuts.\u00e2\u20ac\u009d In other words, MSTU is a thrilling but dangerous weapon in a Bitcoiner\u00e2\u20ac\u2122s arsenal, one that Eric Kim approaches with both enthusiasm and caution. His unique frameworks \u00e2\u20ac\u201c from steak analogies to Spartan war cries \u00e2\u20ac\u201c underscore an unapologetically aggressive investment philosophy, always anchored by an almost spiritual reverence for Bitcoin itself.<\/p>\n\n\n\n<p>Sources: Eric Kim\u00e2\u20ac\u2122s personal blog posts and writings on Bitcoin, MicroStrategy, and MSTU , including \u00e2\u20ac\u0153If you really love Bitcoin you should really love MSTU?\u00e2\u20ac\u009d (June 4, 2025) and the \u00e2\u20ac\u0153MSTR &amp; MSTU\u00e2\u20ac\u009d manifesto (May 2025) , as well as archived insights from his Bitcoin \u00e2\u201a\u00bf blog category . Each of these sources showcases Kim\u00e2\u20ac\u2122s distinctive analogies, strategic boldness, and philosophical take on leveraging Bitcoin through MSTR and MSTU.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin Eric Kim often frames Bitcoin in grand, philosophically-charged terms. He describes Bitcoin as \u00e2\u20ac\u0153the truth\u00e2\u20ac\u00a6 freedom encoded in math, untouchable by central banks or bureaucrats\u00e2\u20ac\u009d . Embracing Bitcoin is, in Kim\u00e2\u20ac\u2122s view, a moral imperative for individual sovereignty. He even likens Bitcoin to protective \u00e2\u20ac\u0153armor\u00e2\u20ac\u009d in a modern freedom struggle \u00e2\u20ac\u201c casting Bitcoin enthusiasts [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-667336","post","type-post","status-publish","format-standard","hentry","category-posts"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/667336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/comments?post=667336"}],"version-history":[{"count":1,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/667336\/revisions"}],"predecessor-version":[{"id":667337,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/667336\/revisions\/667337"}],"wp:attachment":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/media?parent=667336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/categories?post=667336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/tags?post=667336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}