Yes the commodification of Bitcoin as a speculative commodity plaything is taking place and it's not a pretty sight. The Treasury strategy plays upon making Bitcoin exposure more simple and easier via conventional investment channels and using traditional and more innovative fund raising techniques. There is a question over whether these Treasury companies are not abusing the fundamental purpose of equities regulations by raising funds for a purely speculative purpose. Strategy still some core legitimacy in the software it develops but if you are just a shell company acting as a speculative vehicle there is a question over the legality of such a structure.