According to André Dragosch (@Andre_Dragosch), there is a fundamental distinction between directly holding Bitcoin (BTC) and investing in companies that hold Bitcoin on their balance sheets. Holding BTC exposes traders to direct cryptocurrency volatility and regulatory risks, while investing in Bitcoin treasury companies adds layers of corporate management, operational exposure, and market sentiment risk, making it a different asset class with distinct risk profiles. Traders should carefully evaluate these differences to align their crypto investment strategies and understand the unique risks involved in each approach (source: Twitter @Andre_Dragosch, June 16, 2025).