@WhalePanda Saylor understands Bitcoin extremely well.
He would demand transparency from Coinbase. He just chooses not to expose that publicly.
I can’t see him handing over billions of dollars to Coinbase without verification they are holding real BTC for him.
In recent years, Australia's Perth Mint sold gold to China that was "doped" or diluted with other metals, primarily silver, to a purity level below the stringent standards set by the Shanghai Gold Exchange (SGE). Specifically, the gold bars were diluted from a purity of 99.996% to 99.992% due to the addition of silver. This dilution did not meet the SGE's standards, leading to the controversy. However, it should be noted that this level of dilution still maintained the gold above the general industry standard of 99.99% purity.