So when is Strategy going to have its bitcoin treasury spun off and eminent domained into the SBR?
Discussion
Pretty sure this would require a shareholder vote. I would expect that if the govt tried to seize it without shareholder and board consent, the lawsuits would quickly begin.
This is different than the gold confiscation.
Eminent domain wouldn't require a shareholder vote. The US Government has the ability to take property for just compensation for the public good, so I suspect they could buy the bitcoin at a premium if the SBR, as its characterized, is for the public good and for the amelioration of unsustainable debt, so if they paid $250,000 per coin at today's prices, the cash would inur to the benefit of the shareholders far above the present NAV, but it would be an interesting case. I believe in the late 1800s, this was under consideration for acquiring shares of rail companies. Here's an old ass article about this: https://openyls.law.yale.edu/bitstream/handle/20.500.13051/12997/38_5YaleLJ205_October1892_June1896_.pdf?sequence=2&isAllowed=y
Imagine that!
Eminent domain has no authority over private property. All eminent domain can do is infringe on it in an act of tyrannical aggression.
Private property is an unalienable right. Private means you have the right to exclude whomever you want for whatever reason you want.
An unalieanable right is a right that cannot be taken away, not even by a 100% majority vote. Unalienable rights cannot be legislated away, and they cannot be ruled away by a supreme court. Government institutions cannot add qualifiers to unalienable rights or dilute them.
America is a country of unalienable rights. The Constitution does not grant those rights. The Constitution explicitly tells the government that it cannot, and shall not, infringe on those rights.
I would be interested to see a precedent from the past 120 years where the govt seized the treasury assets of a publicly traded company based on the 5th amendment. That's nationalization, not emminent domain seizure. And again, it would go directly to court.
I think we're entering unprecedented times.
Sooner or later. Probably the sooner bit!
During hyperinflation