If honest, most of the buys of public corporations equate, on practical terms, to a change in a column named “ownership” in an Excel file at Coinbase HQ. That would mean that OG’s have been selling BTC worth billions during the last couple of years. Curious as to why.
If dishonest, the BTC balance of these corporations keeps increasing because Coinbase is updating the numbers on the Excel file, while pocketing the $$