To be fair, when investing in bitcoin, we don't need to worry about the future of Coinbase or MicroStrategy, but we will need to pay attention to the future of bitcoin. Because the future of bitcoin has no 1000% guarantee that it will be absolutely safe and always bring us success, and it can be said that everything has risk. But because we hate centralization and when we invest in those companies, our assets will be controlled by others while bitcoin gives us privacy and full control. Therefore, choosing bitcoin will be more correct and safer.
Everyone has their own criteria for profit and risk, even decentralization. If you prioritize decentralization, you choose BTC because BTC is the most decentralized asset in the world. Those who want higher profits can choose COIN or MSTR if they really believe that these securities will increase in price more than BTC in the future. Traditional investors prefer the simplicity they are used to, and they choose spot BTC ETFs and COIN + MSTR.
I think we are different, and we will have different choices. I respect all choices because in the end, each investor will enjoy their own profits or losses.