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Don’t know how accurate the # 10.83% is but the order of magnitude is meaningful, regardless.
2M Bitcoin is more than all the bitcoin left to be mined.
Think of the shenanigans possible with coordination of the major economies, regulators.
Coinbase Custodies 2.27M BTC, 10.83% of Bitcoin Supply – Bitbo
Coinbase currently custodies 2.27 million BTC, representing 10.83% of Bitcoin’s total supply, with significant holdings across retail exchanges a...
Dangerous game. Bitcoin float is not like fiat float
Floater is another word for someone drowned at sea.
Yes and fiat float is up to 100% based on post-covid hysteria reserve requirements … we’re talking about a ~10% float to manage cycles with all the insight into customers’ buying behavior, back room meetings with the President, etc. you don’t think we’re early enough that they can manage a simple float? Especially if MSTR is playing ball, letting them float a portion of their stack? The magnitude of these exchanges is a huge problem for “bitcoiners” … the fact that Saylor doesn’t seem concerned by the potential float of Coinbase is a huge red flag (to me.)
But not the most dangerous game @rand0mguest2
The institutional owners of the coins they custody know the addresses. Any funny business would be detected immediately. I don’t think Brian is trying to share a cell with SBF
Unless the government is in on it. Trying to suppress the price so that we have an orderly transition into a bitcoin standard.
Remember how stupid Saylor got during his podcast circuit last year talking about credit markets? That completely fits into a smooth transition from dollars to bitcoin afforded by fractional reserve banking bitcoin entrusted to centralized third-party custody.