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The fact that people are borrowing him billions of $ so he can buy more #bitcoin, while having no proof of reserves is beyond me.

Let’s call it what it is: Proof of Claims of Bitcoin are Absent. And yes, he can. What happens is the share price goes lower and lower until MNAV < 1. At MNAV < 1, that is the Market Demanding Proof of Assets, aka Show us Onchain what you claim to hold.

Is $MSTR really going to give @jack mallers's Twenty One an edge by letting them roll out proof of reserves unopposed? 🍿 View quoted note →

It's going to happen. View quoted note →