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I struggle to believe that Saylor is buying tens of thousands of bitcoins and the price is doing nothing. In days with thousands of BTC flows into/out of the ETFs the price action is $5k swings, easy.

Every “sell wall” I’ve seen is single digit thousand at $100k … if Saylor is buying 50k+ BTC the market will move.

Remember, ~165k bitcoins are being freshly distributed every year now. A 50k BTC purchase is absorbing all “new” bitcoin distributed over 4 months.

Show us the proof of reserves, nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m nostr:note1lse5ueqm35mt3e8sjsksjxdyxzh4kzssugeh9eqfewk7apahlx2smd2de6

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Discussion

Chrys 1y ago

I remember Saylor advocating for Corporations to custody with entities similar to Coinbase. Does MicroStrategy use Coinbase as a custodian?

Asking from a position of uncertainty. If they are "buying" and holding from Coinbase, it could just be paper Bitcoin. I know IBIT wanted assets to be able to be withdrawn within 12hrs of a request.

BoomTown 1y ago

They use Coinbase & Fidelity for custody