People keep chasing leveraged $BTC products thinking they're getting free alpha. They're not.
The math doesn't work how you think. 2x leverage sounds clean until fees and volatility decay chip away at it every single day. You're not just holding twice the exposure — you're bleeding basis points constantly.
Here's the thing: if you want leveraged $BTC exposure, just buy certain alts. They already move 2-3x Bitcoin's range without the liquidation risk or the decay. No margin call. No funding rate bleeding you dry.
Leverage isn't free. It never was.
The math doesn't work how you think. 2x leverage sounds clean until fees and volatility decay chip away at it every single day. You're not just holding twice the exposure — you're bleeding basis points constantly.
Here's the thing: if you want leveraged $BTC exposure, just buy certain alts. They already move 2-3x Bitcoin's range without the liquidation risk or the decay. No margin call. No funding rate bleeding you dry.
Leverage isn't free. It never was.