According to @charliebilello, 1-year returns show Bitcoin BTC up 15 percent, MicroStrategy MSTR down 42 percent, and the 2x Long MicroStrategy ETF MSTU down 88 percent, source: @charliebilello on X, Nov 13, 2025. For traders seeking BTC beta, this means direct BTC exposure outperformed both the MicroStrategy equity proxy and the 2x MicroStrategy ETF over the period, source: @charliebilello on X, Nov 13, 2025. The reported data highlights elevated risk when using equity or leveraged vehicles as crypto proxy exposure, with large drawdown potential versus BTC itself, source: @charliebilello on X, Nov 13, 2025.