Blockstream CEO Adam Back Slams MicroStrategy Short ETF, Here's Reason

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Adam Back painted a scenario in which the MSTR premium is compressed and the Bitcoin price doubles. In this case, he believes the ETF will be 2x short and the price will overwhelm the NAV correction, leading to accounts getting REKT. even if MSTR premium compressed but BTC price doubles, you're 2x short! price will overwhelm NAV correction, so you'll get rekt anyway. and auto-rebalancing volatile underlying assets erodes capital to slippage in sideways chop FAST. and MSTR is bitcoin correlated and volatile!In all, Adam Back believes the odds are stacked against the success of the proposed ETF as auto-rebalancing volatile underlying assets leads to capital erosion that is never good for portfolios.

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