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 as a shareholder, obviously I would prefer proof of reserves. But I trust Saylor that he has a reason why that’s not currently the case and I trust him that he won’t commit fraud. Maybe I’m wrong and it’ll blow up in my face, but I don’t think that will happen. And if it does, I have BTC in self custody and I’m OK with this risk 
 I tend to agree with you. I like Saylor a lot and have learnt a lot from him. He would face jail if they didn’t have the bitcoin, and I’m nearly certain he wouldn’t do that.  But the bitcoiner in me says don’t trust, verify.  
 you literally couldn’t create a more bullish leader for Bitcoin in corporate america than Michael Saylor. Yet so many bitcoiners such as Matt Odell have MicroStrategy derangement syndrome. Maybe it’s because MSTR is outperforming his entire VC fund? Why would accredited investors and institutions invest in 10-31 when they can have less risk and leveraged BTC exposure via MSTR CNs and equity?