Don’t know about “wrapped bitcoin” but as long as it’s not “paper” bitcoin, i.e, it counts against the $21M, I’m inclined to count it as “real.”

Purists bitch about all kinds of things, but I’m starting to think MSTR, ETFs, (and maybe even this wrapped bullshit) are just different custody solutions that come with trade-offs, one of which is counterparty risk.

People *should* act in their self-interest, do what will preserve their wealth, take care of their families. If they feel safer with Saylor holding the coins, fine. If they feel safer holding themselves, fine.

Either you believe in the tech or not. If the tech is as advertised, the limited supply and inability to censor should coopt the institutions and governments, not the other way around. If it’s easily capturable, once it’s in Saylor’s coffers, then it wasn’t really freedom tech to begin with.

They always say bitcoin is for enemies. They should add: “Even large ones.”