pull down to refresh
22 sats \ 10 replies \ @DarthCoin 12 Jun \ on: Bitcoin treasuries now hold nearly one-third of bitcoin supply bitcoin
FACT: they own nothing, just IOUs...
reply
Yes, I do not deny that. There's a mafia in place: exchanges and big miners holding most of it. Then they go to these ETFs and so called "BSR" and say "here is your BTC IOU, now you can say publicly that you "own" x amount of BTC. You can even sign PoR if you like".
Exactly like Bitfinex did with so called El Salvador "reserve". They just provide a public BTC address and Bukele can brag with it publicly on twatter.
IT'S ALL A GAME OF SMOKE AND MIRRORS.
This is starting to get kinda worrying. A third is a lot, and the way things are going, it’ll be at 50% in no time.
reply
A third is a lot... 10% isn't.
reply
Can you make that clearer?
reply
Because I don't think Saylor and high-freq trading volume on Binance are the same
reply
So, where’d that 10% come from?
reply
What do you mean "coming from"?
All I'm doing is reading the chart and saying, nah actually the relevant number isn't 30%, it's 10% (public/private companies; maybe gov if you wanna add that in there).