marksn on Nostr: I get your point — holding paper claims like ETFs or derivatives definitely isn’t ...

I get your point — holding paper claims like ETFs or derivatives definitely isn’t the same as holding Bitcoin in self-custody. On that, we agree completely: real sovereignty means controlling your own keys.

Where we differ is calling Saylor part of the fiat system. Whatever one thinks of his motives, buying billions in BTC and holding it on-chain isn’t “paper Bitcoin.” MicroStrategy’s coins are verifiable on the blockchain, and the company is subject to legal audits that would make “fake Bitcoin” impossible.

When he calls himself the “central bank of Bitcoin,” I take that as marketing hyperbole — not a literal claim to monetary control. The beauty of Bitcoin is that no one can be its central bank, not even someone with ten figures invested. That’s exactly what makes it so powerful: voluntary adoption, open access, and no permission required.