It’s very clear to me that Coinbase, and by proxy MSTR/all American based companies that hold Bitcoin, is an arm of the state.

At some point in the future all 2.3M+ BTC they hold will be assumed by the federal government if not hacked first. Armstrong likely made this deal a while ago or was forced into it.

This leaves a small few (literally probably us here on nostr) who self custody a material amount of bitcoin. I’ve been thinking about this game theory a lot recently. I need to read Jason Lowery’s thesis…