We know the government is capable of seizing all the bitcoin held by MSTR and the ETFs. They already did it with gold (executive order 6012). 

Don’t worry, they’ll say, we’re paying you in USD for what it’s worth. https://image.nostr.build/05d9bc5b043866f266ae9e68e7245c1bbf008d834c0da120f244bd3a85f48013.gif