2/ Michael Saylor has often explained his long term vision of Bitcoin as a "Digital Hotel." The concept is generally lost on most people, unless one understands what problem he is trying to solve.

1/ The most likely reason why Michael @Saylor won't publish Proof-of-Reserves is almost certainly due to Strategy's hinted long-term business plan to become a "Digital Hotel." Strategy is protecting the privacy of future occupants. Let's dive in 🧵👇

3/ In order for Bitcoin to succeed, it must first become the planet's most trusted store of value. However, there's one problem. Mature markets require large holders and risk tools for market makers to provide collateral and offload risk. $MSTR is poised to provide that service.

4/ For example, in TradFi, many stocks can handle many billions of dollars worth of trades a day, but there are options, etc. so people can de-risk their books, which in turn can reduce volatility and protects investors.

5/ Exchanges can offer market making, but they often lack liquidity, trade against users or offer commingled/rehypothecated assets that are potentially tainted for tax and crime purposes. Enter Strategy, an innovative software company with a huge pristine Bitcoin treasury.

6/ So, when Saylor describes Bitcoin as a "Digital Hotel," he's describing a metaphor for a business plan where participants can log on to Strategy software and find the digital bearer asset collateral and liquidity they need to de-risk their books.

7/ If we take Saylor's parable of the "Digital Hotel" at face value, he is describing how digital property, as collateral, is being dematerialized into bits that can be sent over the internet, instantly, and rented out by the minute with full occupancy.

8/ Much like a physical hotel room can be rented but never stolen, Saylor's "Digital Hotel" metaphor makes perfect sense in the context of lending sats through smart contracts, with time locks, that can be reclaimed by the lender if obligations are not met.

9/ Once you see Strategy as a "Digital Hotel" it becomes clear why Proof of Reserves would be a bad idea, as it would compromise the privacy of future occupants. Instead, Saylor has suggested that Zero Knowledge Proofs could be employed to preserve privacy and prove reserves.

10/ Watch the full episode of @WhatBitcoinDid, to hear Saylor's ideas of what Bitcoin can do for Strategy's long term business plan.

11/ Long-term Strategy investors ought to believe that *something* will be done with the coins in a future world that adopts a Bitcoin Standard. Any address doxxing today would permanently impair future customers who would inevitably demand a modicum of privacy.

12/ So why not clarify? Well, in many respects he did. He mentioned why banks don't publish account numbers. And there are many legitimate reasons why Saylor would be unwilling to explicitly state the long-term business plan. Grok explains:

13/ "JPM Morgan's not revealing all of their accounts and all of their addresses and locations of all their assets. You're just creating a target for someone… You would have people continually staring at every transaction into and out of those addresses."

14/ Additionally, there are regulatory burdens that (future) banks must consider. For example the Gramm - Leach - Bliley Act prohibits banks from sharing non-public information related to clients.

Why is everyone talking about Bitcoin? Governments, Companies, your neighbors, your kids. What is it? We can help you Understand Bitcoin in a easy, convenient, thorough 1-on-1 overview.