Microstrategy doesn't hold a single Bitcoin. Bitcoin is permissionless, what microstrategy holds is permissioned by the state and has neutered the entire value proposition of Bitcoin.
Discussion
Microstrategy is a company and a company can’t hold Bitcoin, individuals do, so I agree with you on that. And yes they’re very much permissioned by the State - custodianship, FASB accounting, public filings etc. I very much get and concur with your opposition to corporations, they make little sense in a Bitcoin world but I’m talking from the fiat system lens.
Not sure I fully agree with “neutered the entire value proposition of Bitcoin”. Certainly not for other Bitcoiners, MSTR’s use/lack thereof doesn’t affect other Users so it hasn’t neutered anything (although re my last point I can see being on the opposing side to them in future).
But also NGU is part of the value prop of Bitcoin, and they’re definitely exposed to that element of it.
I mean that it neuters the value proposition of all coins held by microstrategy, they do not provide Microstrategy with any separation of money and State.
True but sort of circular logic in that the legal fiction of Microstrategy only exists of the State in the first place.
So you define "holding" as something that only an individual can fo and use that very definition to proof, that a company can't "hold" anything?
You can define "holding" more broadly - then it can.
Seems like an arbitrary game of words.
It’s not arbitrary.
A company is a legal fiction endowed by the State. There is no “Microstrategy” as a physical entity in the world, you can’t walk up and punch Microstrategy in the face, and there is no entity that can hold and control the use of a Bitcoin private key - that requires agency which companies don’t have.
Companies have agents who act on their behalf. Those people when acting on behalf of said company are bound by laws which if breached will either send the agents to prison, or in extreme cases see the State revoke its charter and dissolve it.
This whole concept of corporations and legal fiction is only a few hundred years old.
Almost every aspect of human reality, culture and civilization is a fiction - thus I consider it completely normal, that companies are fictions.