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@ asyncmind
2025-05-21 11:38:52
“Bitcoin corporations” like MicroStrategy (MSTR) are perfect setups for regulatory capture because they represent the opposite of sovereign custody. Here’s why:
https://files.sovbit.host/media/16d114303d8203115918ca34a220e925c022c09168175a5ace5e9f3b61640947/d427558d3e8fec4e076f2d335fc4b23d5d3d4abe6f90d7398d4b180c81d77c50.webp
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1. Public corporations are owned by the fiat system.
MSTR is a publicly traded company, listed on fiat stock exchanges, regulated by the SEC.
Its executives, board, and even treasury decisions are subject to legal, political, and shareholder pressures.
All BTC holdings are visible, traceable, and confiscatable through court orders or hostile legislation.
> If your Bitcoin can be frozen by a subpoena, it’s not sovereign.
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2. Centralized BTC = single point of failure.
MSTR’s reserves are held via custodians and centralized wallets, not decentralized multisig.
Even if they use some multisig internally, key holders are known, identifiable, and controllable by law.
Regulators can impose restrictions like forced KYC, taxes, ESG compliance, or seizure threats.
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3. They normalize Bitcoin as an ETF-like commodity, not sovereign money.
Bitcoin on a corporate balance sheet is treated like gold, not like exit from the fiat regime.
This turns BTC into a regulated financial product, subject to accounting rules, capital controls, and Wall Street narratives.
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4. They can be used to pacify the market.
A “Bitcoin-friendly” company like MSTR or BlackRock can absorb inflows and redirect attention away from self-custody.
This traps BTC in controlled environments, where regulators and legacy finance have oversight.
> Capture = containment. They build the cage around the digital gold.
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5. In case of a crisis, regulators know exactly who to pressure.
Imagine an emergency executive order: MSTR could be forced to sell, block, or report all BTC activity.
Shareholders would comply to protect the company’s fiat valuation.
The sovereign BTC user is not vulnerable to this.
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TL;DR:
> Bitcoin corporations are Bitcoin in a suit. Easy to serve, easy to sue, easy to subdue.
They are Trojan horses for regulatory control. That’s why true Bitcoiners say:
“Not your keys, not your coins. Not your multisig, not your future.”