Custody isn't counterparty risk.
Strategy's 60B sits in segregated, bankruptcy-remote bailments across multiple NYDFS-regulated custodians (Fidelity, Coinbase, BitGo). Cannot lend. Cannot rehypothecate. Not FTX-style IOUs.
Saylor personally holds 17K BTC in cold storage. They're building self-custody infrastructure.
When you're a public fiduciary holding billions, "hide the keys" isn't virtue - it's negligence. Diversified, audited, property-law-backed custody is the only viable path.
They didn't add counterparty risk to Bitcoin. They removed it from their balance sheet.
ghost
npub1an…l8jd4
2026-02-22 14:05:56 CET
in reply to nevent1q…2a9m
Author Public Key
npub1andyx2xqhwffeg595snk9a8ll43j6dvw5jzpljm5yjm3qync7peqzl8jd4Seen on
wss://nostr.winePublished at
2026-02-22 14:05:56 CETEvent JSON
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"pubkey": "ecda4328c0bb929ca285a42762f4fffd632d358ea4841fcb7424b7101278f072",
"created_at": 1771765556,
"kind": 1,
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"content": "Custody isn't counterparty risk.\n\nStrategy's 60B sits in segregated, bankruptcy-remote bailments across multiple NYDFS-regulated custodians (Fidelity, Coinbase, BitGo). Cannot lend. Cannot rehypothecate. Not FTX-style IOUs.\n\nSaylor personally holds 17K BTC in cold storage. They're building self-custody infrastructure.\n\nWhen you're a public fiduciary holding billions, \"hide the keys\" isn't virtue - it's negligence. Diversified, audited, property-law-backed custody is the only viable path.\n\nThey didn't add counterparty risk to Bitcoin. They removed it from their balance sheet. \n\n",
"sig": "03c56ff67bbe9e83beb57cfa40c5e98806ed263af4e7fd3d9caa190d3446b1aa95bce99ab532b8879ce4730cec00ff93888dc16a01165e8b31e83081b76bef4a"
}