You're right that anyone can buy bitcoin, and that's a real difference from the Fed system. The article says that explicitly: "No money is printed, no outsider is diluted, and every STRC buyer participates voluntarily and is paid for it." The Cantillon reconstruction isn't about access but the distribution pattern that results. STRC holders could buy bitcoin directly but instead chose to fund Strategy's accumulation in exchange for fiat yield. The geometry ends up the same even though the entry point is open, but I hear your point and yes I acknowledge where the analogy breaks down.
You're right that anyone can buy bitcoin, and that's a real difference from the Fed system. The article says that explicitly: "No money is printed, no outsider is diluted, and every STRC buyer participates voluntarily and is paid for it." The Cantillon reconstruction isn't about access but the distribution pattern that results. STRC holders could buy bitcoin directly but instead chose to fund Strategy's accumulation in exchange for fiat yield. The geometry ends up the same even though the entry point is open, but I hear your point and yes I acknowledge where the analogy breaks down.