I still say Saylor is overrated and people need to just buy bitcoin and learn self custody, but I’m glad you brought up the asymmetric point. We don’t know the full picture.

Taking into account the track record of the Big 4 of writing exactly what the client wants, not sure it will help sorting the mystery of the reserves

They probably have at least a 2% fractional reserve. Saylor should not be trusted, let alone worshiped.

Can you imagine? People wonder how it will blow up like FTX. If it came out that they never bought any Bitcoin that would be a massive catalyst for destruction 😆

Maybe they have, maybe not. But they will lose all or big parts of it when Coinbase is hacked in the future