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 This is also true 👌  
 And Fidelity as well 😱

I knew it was low, but I didn't realize his understanding of self-custody is that low 
 I thought Fidelity self-custodied? 
 They self-custody, but Microstrategy has to trust Fidelity that they are doing the self custody properly. It's no different from an individual keeping their sats on an exchange