There is no proof of reserves at Coinbase and he's the buyer of last resort of their iou's. Stack size allows bulk dumping on ETF markets as they are bad actors as well (ETF rehypothecation). Market manipulation would be imminent and no coins would move at all. Mass psychological manipulation is just a matter of time imho. Also mstr is not backed by btc legally as found lately. Idk. Just thinking.. I don't trust them and I cannot verify.