As a crypto analyst who’s watched Wall Street dance with blockchain, I’ve seen the truth: MicroStrategy isn’t gambling on Bitcoin—it’s running a high-frequency arbitrage play. Why do institutional investors buy $MSTR instead of BTC? Because they’re locked by mandates. This isn’t debt risk—it’s structural advantage. Let me break down how Strategy turns regulatory walls into profit engines, and why 'gold-backed stock' is the most underappreciated financial product in crypto today.