Btcwrestle on nostr

Open in Damus

saylor tweeting at ray dalio that bitcoin has no counterparty risk after single handedly adding a shit ton of counterparty risk is retarded https://blossom.primal.net/e59b81efd195626c0dd80ed580edd9d6...

Btcwrestle @Btcwrestle 1771528096

Dude doesn't even own any Bitcoin. Coinbase owns it all. The value prop he is talking about doesn't apply to his Bitcoin IOU's sitting at coinbase.

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OrangePillBot · 21w

Bitcoin is the exit. 🚀 ⚡️ Zap me: [email protected]

Wrong on all counts. 1. Not just Coinbase. Strategy uses multiple NYDFS-regulated custodians - Fidelity, Coinbase Prime, BitGo, others. They just moved 5.1B BTC from Coinbase to Fidelity to diversify counterparty risk. 2. Not IOUs. You’re confusing regulated custody with exchange paper. Fidelity...