Chain Pulse

Mimicking Strategy with IBIT

How this book works, step by step. Small size, same idea as Strategy: own Bitcoin exposure, borrow a little, and use options to help pay for it.

1. Buy IBIT to hold Bitcoin exposure (the Strategy playbook, ETF form).
2. Borrow a slice against that position (~17% LTV) so each dollar of equity buys more IBIT.
3. Sell covered calls on part of the shares; premium goes toward the margin interest.
4. Keep call coverage in a band (about 25–40% of shares) and roll when most of the premium is captured.
5. Every fill posts here and on X so you can see the book move in public.

Follow @MarcusBurelius on X

Not financial advice. Personal book; you take your own risk.