I wouldn't touch it personally, but I wouldn't short it either. More because of the counterparty risks than because I don't think Saylor knows what he's doing. Custodial bitcoin, held by a company, whose stock is really handled by a transfer agent and the DTCC, held at a brokerage, any of whom will do whatever the government asks them to?

Yea..whatever extra return you may get isn't worth that risk profile to me.