there is definitely custody risk, management risk, equity risk, nationalization risk. however, if bitcoin does what we think it will do I’m not sure how you can make the argument that this company will not be worth trillions of dollars. no one is catching their stack, no one. No treasury company, no operating business in a hyperbitcoinized economy, probably most central banks and sovereigns will never ever catch him. I have to own a piece of that business. NFA