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![tonycarrera Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::13871542.png) Tony Carrera [@tonycarrera](/creator/twitter/tonycarrera) on x XXX followers
Created: 2025-07-22 20:38:19 UTC

I wouldn’t say MSTR equity is actually backed by any BTC. There’s just a representation of Bitcoin per share. At the end of the day you can’t withdraw any bitcoin.

Like cash on hand of a public company. Should Berkshire Hathaway shareholders not count all the cash held because some of it is held for business operations of the businesses it owns like Geico, Benjamin Moore, etc?


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