Strategy's advantage is that it can invest in other cryptocurrencies. While right now, its focus is clearly to load up on Bitcoins, it may not stay that way forever. If there are changing market conditions in crypto, it has the freedom to diversify or pivot to other assets.

Bitcoin has reached another all-time high, surpassing $118,000 for the first time on Friday. The record arrives as a flood of money continues to move into spot bitcoin ETFs, all while U.S.