How do we know Strategy have any Bitcoin?
Discussion
Trust, don't verify.
He actually said that in the 7 minute video
Csn you link to the said video?
#asknostr ๐
AFAIK Coinbase was the repository holding company.
Tbh I think the way it works is almost fractional share accounting, and they just "show" the numbers when required, but circulate the same coins
If you are a normie company that hold some Bitcoin and trust Coinbase to hold them for you, then so be it.
But if you are a Bitcoin company, trusting a third party to hold your coins is not the best strategy.
I would say that they probably have to use a third party custodian, but then again, Fidelity custodies for their own ETF.
We don't. I used to be vocal about this on X. Bitcoin is built for transparency. How we are overlooking the ability to keep every company accountable to their word is beyond me.