Am I the only one still buying MSTY to lower my average cost basis?

"The YieldMax MSTR Option Income Strategy ETF ( NYSEARCA:MSTY) has been moving steadily lower over the months. With shares now going for $15 and change per share, many investors are wondering if it's worth it to keep buying on the way down to lower that average cost basis or if it's better to just hang on for the ride. In a specific case I stumbled upon on Reddit, a poster asked if they're the only person out there that's continuing to buy on the way down. Of course, this person may feel alone in buying MSTY shares into weakness, but they're not. Many folks on Reddit are just content with hanging on and collecting that massive distribution payout that continues to be quite towering to this day at just north of 92%."

"While it's hard to come by someone on the r/YieldMaxETFs Reddit who has been doubling down, I don't think it's a bad decision for those who desire a risk-on, dividend-focused way to profit from continued strength in shares of Strategy ( NASDAQ:MSTR), a company whose fate seems closely tied to Bitcoin ( CRYPTO:BTC). Indeed, Strategy's top bosses look like geniuses for having bought Bitcoin right before it experienced a massive leg higher."

"Given the sheer amount of Bitcoin bulls out there, I'm sure there are many who wish they could get paid real dividends (Bitcoin and other cryptos do not pay cash dividends to investors) for their crypto investment. With the MSTY, it's possible to pad one's passive income stream as one bets on continued strength in the top cryptocurrency."

The MSTY ETF has declined to roughly $15 per share, prompting decisions between buying more to lower average cost or holding to collect large distributions. Many retail investors on forums prefer to hold and collect the ETF's very high distribution rate of just north of 92%. The ETF provides option-income exposure tied to MicroStrategy (MSTR), whose performance is closely correlated with Bitcoin. Executives at the underlying company bought Bitcoin ahead of major gains, increasing interest from Bitcoin bulls. MSTY offers a way to generate cash payouts for investors betting on continued cryptocurrency strength, though it carries elevated risk.

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