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RE: Grayscale Bitcoin Trust Says It Won't Confirm Its On-Chain Wallet Info ...

in DBuzz2 years ago

It's apparently true that they owe it to their investors. Opening up can easily cause panic among holders leading to massive withdrawals and the collapse of everything. Perhaps the best way for proof of reserves to work is with a private auditing institution only

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Opening up can easily cause panic among holders leading to massive withdrawals and the collapse of everything.

Why would this happen if they actually have the reserves? If they don't have the reserves they are committing a crime, and it's not about risk for investors but risk for themselves having to face the consequences of their crime.