If you are a shareholder please give us your input, either here or privately. I am the servant of shareholders. I care a great deal about their interests and my relationship with them. I try to consult directly with major shareholders regularly.
I don’t know what governance policy you are referring to. Multiple shareholder passed motions certainly substantiate the right and responsibility the Chief of Liquidity Operations has to allocate reserve funds. It is a responsibility I am a little uncomfortable with, because I cannot predict future pricing of assets in the reserve with much accuracy. I do know, however, that when an asset in the reserve more than doubles in price in less than 2 days on high volume, it is time to sell some.
My decision to sell 25% of Liquidity Operation’s Bitcoin Cash for Ether is a reaction to the huge spike in price, most of which has occurred in the last day. This is a very fast moving situation. There simply isn’t time to have a discussion involving a large number of people and use a voting process that takes at least a week. Fast reaction time is one of the reasons Nu uses custodians to make decisions on behalf of shareholders.
Even though I have to make the decision myself, I seek input. Do you think we should sell more than 25% of our Bitcoin Cash immediately? I am considering that.
