Bitcoin Treasuries: Controversy Over BSTR's Bitcoin Holdings of 30,021 BTC

Bitcoin Treasuries is facing controversy after reporting BSTR's Bitcoin holdings as 30,021 BTC. This figure represents approximately $1.9 billion in Bitcoin reserves, ranking fifth among publicly listed companies. However, according to documents submitted to the U.S. Securities and Exchange Commission (SEC), the Bitcoin in question is described as an asset that is expected to be transferred to the company after the transaction closes. CryptoSlate reported that CEPO and BSTR are negotiating a new transaction structure after withdrawing the existing merger conditions. The previous private investment in public equity (PIPE) has fallen through, and CEPO has indefinitely postponed its shareholder meeting. According to the SEC documents, at the time of the transaction's closing, the publicly listed company is expected to hold at least 30,021.11 BTC. However, there is currently no indication that BSTR Holdings or CEPO already possesses or controls 30,021 BTC. Bitcoin Treasuries has indicated the 30,021 BTC figure as of the 22nd, while updating its dollar equivalent value according to the market price on the 30th. However, the purchase history is shown as '0 transactions,' classifying this amount as the current company's Bitcoin reserves. CryptoSlate pointed out that there is insufficient explanation regarding this standard, analyzing that BSTR's 30,021 BTC is closer to a promise awaiting the completion of the transaction.