The company adopts Bitcoin
Most of these are known to involve classic buying and holding strategies, similar to the USD Cost Average (DCA) strategy.
Although investors of all kinds prefer DCA, new research from crypto options market manufacturers track markets shows that it has underperformed since 2023, with its structured products called “accumulators” often referred to as “I Kill You Later in the Traditional Market.”
“Our backtest results show that the accumulator strategy outperforms DCA in the past 2.5 years,” said Pulkit Goyal, head of orbital market trade. “The three-month accumulator performed well 10%, while longer tenors were even better – the six-month and twelve-month accumulators performed better than 13% and 26%, respectively.”
Goyal added that the accumulator provides a disciplined, cost-effective approach to token accumulation, making it “naturally suitable for the use cases of cryptocurrency companies.”
Both DCA and accumulators use the same principle – stop timed on the market. Although DCA simplifies investment by making purchases over time, accumulators can buy coins at a discount in structured settings and help out over DCA during cattle runs.
Primer on the accumulator
An accumulator is a time-structured product that is associated with the performance of the underlying asset with an uplink knockout obstacle, which is horizontal and terminates the structure if hits.
This is how it works: Investors agree to purchase a certain amount of underlying assets at a fixed discount (strike) at a fixed discount (strike) for periods such as daily or weekly periods.
The product operates during a predetermined set period and will terminate unless it is phased out early due to the increase in spot prices to the barrier.
Note that investors are obliged to buy assets at discounted prices, rather than choose, and if the spot price falls below, it must be doubled.
Example of BTC accumulator
Considering a three-month accumulator, investors promise to buy $1,000 worth of BTC at a $94,500 strike price per week, with a knockout level of $115,000.
The strike price of $94,500 is 90% of the current spot price, which is about $105,000. In other words, assuming the spot price is sold for more than $94,500 and below the knockout round of $115,000, investors are now ordered to discount coins at a discounted price.
If the BTC knocks out the level above the top, the structure will terminate.
If the price is below $94,500, investors doubled their weekly purchase price during the same strike, or $94,500 – there is no way to sell, which means investors end up buying at a price higher than the ready-made market interest rate. (That’s why it gets the nickname “I’ll kill you later.”)
Therefore, the accumulator is not suitable for day traders, short-term traders and speculators, and does not necessarily have to be better than DCA in a bear market.
Perform backtest
Orbit tested the three-month BTC accumulator, which took place from January 2023 to June 13, 2025, assuming investors keep turning new in maturity or premature knockout rounds.
The results show that the average BTC acquisition cost of the accumulator is $39,035, 10% lower than the average DCA purchase price. DCA involves a fixed dollar amount invested in BTC every week.
The 6-month and 12-month maturity accumulator performed better with an average cost of $37,654 and $32,079, respectively, and the average cost of better than DCA increased by 13% and 26%.
