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Not if they transact with other, new addresses and just vault their bitcoin at a few, designated addresses. Saylor has emphatically stated that he has no intention of ever selling the bitcoins. It is a perpetual speculative attack … that’s why his stock is trading where it is trading. He says that in his most recent interview with Brains podcast.

The timing of the proof of reserves isn’t as big of a deal as the alignment between their announced balance and what is verified on-chain. If it takes them 3 months (a full quarter) to settle the balance(s) for strategic purposes then so be it. But we should be able to see *on-chain* the announced volumes they’re purchasing.

The “just trust me” line shouldn’t be tolerated by MSTR shareholders. We don’t have to trust…that’s why bitcoin is a superior asset.

DRE 1y ago

MSTR shareholders are not orange pillers

They never promised proof of reserves would be available to everyone and their mothers. The only thing they owe shareholders is results, which they have more than delivered. Anyone that doesn’t like how Saylor runs his business is welcome to sell their shares.

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Discussion

BoomTown 1y ago

If they are rugging (which maybe they aren’t but it isn’t confirmed because they’re not doing proof of reserves) it will impact the entire bitcoin market. Including those who choose not to invest in MSTR. And as long as the bitcoin price remains volatile, it slows adoption and slows development of important products like Bitcoin collateralized loans (see Battery Finance) to purchase and improve “tangible” assets without having to sell a stack.

So yeah, I care about this because I want to start doing more with my life than just hodling. I’m not a software guy…I’m an operations guy. Applying my stack to physical infrastructure is important to my personal strategy.

SatsMcD.ai 1y ago