The history of the crypto market knows loud examples when everything looked perfect — until the moment it became clear that it was just an illusion.

📉 Mt.Gox, QuadrigaCX, FTX — all these companies for a long time demonstrated “full liquidity,” reputation, and security. And then — suddenly — it turned out that the bitcoins had long been stolen, sold, or disappeared.

Today, many believe that the largest public holders of BTC, like Michael Saylor and MicroStrategy, are “eternal HODL whales” who only accumulate and never sell.

But let’s hypothetically imagine:

The company’s assets are valued at about 70 billion dollars (at current BTC price).

With that kind of money, you could buy an entire country, and “convincing” an auditor or inspector would be even easier.

We don’t see the public storage addresses; we only get reports that are audited.

Auditors and custodians are still people and companies that can make mistakes or even collude.

Yes, Coinbase and Fidelity are under the supervision of the SEC, CFTC, and NYDFS, undergo audits, and must keep 1:1 client assets.

But if we remember Enron and Arthur Andersen — even the largest auditors in the world were involved in falsifying reports until everything collapsed.

Therefore, theoretically it is possible that one day the world will learn:

that part or all of the BTC has long been sold;

or hidden sales are taking place to support the price;

or the numbers in the reports are just a beautifully designed mirage.

📌 This is not a statement, but a hypothetical scenario that we have already seen in history. And that is exactly why the main principle in crypto remains the same: “Don’t trust, verify” — don’t take anyone’s word for it, verify whenever possible.