VCs that thought Bitcoin is the next big thing: why invest in Bitcoin related startups instead of just directly buying Bitcoins?

So many Bitcoin related startups have landed money from popular VCs. Who all claim that it's the next biggest thing.

If that's the case, why not just buy the actual currency where you're likely have higher odds of a big ROI than a startup?

In my opinion, their logic in doing this would be:

1. To accelerate the infrastructure around Bitcoin to help it grow faster by investing in companies that support Bitcoin's infrastructure. Thus, making Bitcoin more accessible to the average Joe and easier to become mainstream.
2. If one of the VC backed companies becomes the de facto standard of how to buy, sell and store Bitcoins in the future, that would be much more valuable than owning actual Bitcoins. Would you rather own Bank of America or own a lot of physical dollar bills?

I'm also sure if an investor believes in Bitcoin they are buying them on the side. Especially if they have invested in a BC company and they are exploding with growth. On the regulated side of things (stock market) that would be inside trading. As far as I know, there are no laws against doing so with Bitcoin. So it's a win-win for investors, assuming Bitcoin does indeed blow up and doesn't get to regulated in the near future.