That's an interesting take. That would be a significant case of securities fraud that would likely get him sued into oblivion by shareholders and potentially put in jail.
I am going to take the other side on that. If you want to argue they don't really own bitcoin because they custody it with Fidelity and Coinbase then I am compelled. I actually think it is much more likely that Coinbase is doing some sort of fractional reserve banking with Bitcoin than MSTR.
This paper bitcoin is becoming more and more worrisome. Now that more companies are buying bitcoin, I think there is more potential for another big fraud to happen.
This is not strictly true. Its moving from Coinbase Cold and Hot wallets into Coinbase Custody Hot and Cold wallets. Like moving your keys from the left pocket to the right pocket. Coin is moving here.
I think Saylor is a fraud and doesn’t own that much bitcoin.
MSTR is a tool to distract people from buying actual bitcoin.
That's an interesting take. That would be a significant case of securities fraud that would likely get him sued into oblivion by shareholders and potentially put in jail.
I am going to take the other side on that. If you want to argue they don't really own bitcoin because they custody it with Fidelity and Coinbase then I am compelled. I actually think it is much more likely that Coinbase is doing some sort of fractional reserve banking with Bitcoin than MSTR.
In terms of your second point. Absolutely.
Yes, I’m talking about Coinbase selling paper bitcoin but I think Saylor is part of a larger scheme that suppresses the price via fractional reserve.
I really wish everyone would get their bitcoin off exchanges. These guys should be stress tested. What happens when 1M coins move in a week?
My guess is after a couple days they pause withdrawals.
🎯
This paper bitcoin is becoming more and more worrisome.
Now that more companies are buying bitcoin, I think there is more potential for another big fraud to happen.
Just wait intimately there’s a “strategic Bitcoin reserve”
If they publish it like they did in el salvador, there wont be any problems.
Impressive that they haven't been able to move the price at all
They do not actually buy bitcoin. They buy an IOU on bitcoin. No need to go to the spot market to buy paper.
This is not strictly true. Its moving from Coinbase Cold and Hot wallets into Coinbase Custody Hot and Cold wallets. Like moving your keys from the left pocket to the right pocket. Coin is moving here.
Show me please
and Fidelity Digital Assets
plus insurance in case of loss
These must be "private" sales.
The honey pot continues.
I think it's great. Bitcoin is for enemies.
They are probably going to burn it and say, oh well, we tried.
Actually 😅
Funny how the nature of his investment strategy ensures that he buys much more bitcoin during all time highs and much less when it's near the bottom.
the miracle of arithmetic
Despite the additional bitcoin buying and the Nasdaq inclusion, MSTR has been in decline since hitting an intraday high of $543 on Nov. 21.
Your BTC purchase is progressing impressively 😳
would be nice if it was mine 😂