Which means their custodian doesn’t have to hold the bitcoin. Duh.
Discussion
So even if they don't hold any Bitcoin, it doesn't hurt actual bitcoiners when MSTR becomes the next Enron. It just blows up MSTR shareholders not Bitcoin holders.
So i don't know why bitcoiners are worried about Microstrategy hurting Bitcoin.
Cope that the stock outperformed bitcoin from the bottom of the bear until now? So they actively wish for its demise like they do the ETFs It’s the OPs way
I have, on a cost basis, 5% of my net worth in MSTR. If you have more, good for you. But you’re trusting, not verifying. Your MSTR position could get rekt.
Proof of reserves helps to derisk rekt risk. Unclear why Saylor doesn’t do it…
Not everything has to be trust-less. My MSTR position can get rekt the same way any other security can get rekt.
He has his reasons. I am not under the impression that he is lying. There is no incentive for him or the custodians to lie, especially after seeing what happened to SBF.
People can make their own judgement. Mine isn’t based on emotions, so I sleep well at night.
ok good to hear! BITB ETF used to publish their bitcoin address, but they don't advertise it anymore. I'm not sure what risk they see in showing the address
other than people sending unsolicited transactions to their account for fun.
perhaps people prefer to have this just available to auditors for privacy reasons.
there is this Dune dashboard which i believe obfuscates the exact address somehow. Why MSTR can't do something similar is a good question. it doesn't concern me at all since i assume public companies have to be audited pretty thoroughly. but i see your point.
Yeah bro it’s all smoke and mirrors 🤫