⚡️👀 WATCH - Michael Saylor says this is a “historic entry point” to buy Bitcoin at $80,000.
Wall Street, the government and banks all embrace it.
Once we flip from risk-off, Bitcoin will rip with a vengeance.
Discussion
When nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m ? When? You know you could do your part and show all your shareholders where on the blockchain they can find the bitcoins that are backing their investment in MSTR. That move would remove some risk from MSTR as an investment, as well as reinforce the auditablity of bitcoin and the scarcity of bitcoin, which are features to this superior asset.
The longer we go without proof of reserves, the increasingly confident I am that MSTR doesn’t have access to all their bitcoins.
This has nothing to do with Bitcoin though
Whether or not MSTR has a direct claim on specific UTXOs on the Bitcoin blockchain doesn’t have anything to do with Bitcoin?
Only MSTR holders need care
Nah, bro. I’m sitting over here waiting for bitcoin to moon. While Coinbase could be adding 100k, 250k, 500k bitcoin to the “absolute scarcity” … every bitcoiner should care. That’s why I’m so pissed off about it.
Your position is the exact reason I’m yelling about it and won’t shut up.
Lol. You think Saylor/Strategyt doesn't have the addresses where that btc is stored? And that Coinbase would take that risk? delusional
Sorry, maybe that was a bit harsh. I do share your concern, but I'm a little more optimistic. Basically your concern is just about price. This will sort itself out in the long run. Either the bitcoin is there (most likely, since they would be auditing it and it not being there exposes Conbase to billions of dollars of risk) or Conbase is fucking around making paper btc (in which case when they get caught out they would get insanely rekt and go out of business). In either scenario bitcoin will continue on as usual.
Exchanges fractional reserving bitcoin has always been a threat but it’s a good way to blow up your exchange. It’s just a form of leverage, and if they do it recklessly they could cause a short squeeze if there is a bank run on the exchange they’re fucked 🤷♂️
You get more Bitcoin if there is paper Bitcoin being sold. Stay humble and stack sats. Easy solution to this perceived problem.