Bitcoin Treasury Companies, Paper Bitcoin & Fractional Reserves | What’s Really Happening Under the Hood? | Oct. 6, 2026

How much Bitcoin is really there? What’s happening behind the scenes at Bitcoin treasury companies—and could paper Bitcoin and fractional reserves be hiding risks investors don’t see?

Today on Bitcoin Today, we go down the rabbit hole with Entropy and the Entropy Lab project, NGU, paper Bitcoin, and the growing conversation around fractional-reserve Bitcoin.

We take a closer look at Bitcoin treasury companies and the questions surrounding transparency: How much Bitcoin do these companies actually hold? What’s happening under the hood? And how much can investors really see?

Then the conversation takes an unexpected turn into TradFi on blockchains, tokenized stocks, and the future of financial markets as traditional finance increasingly explores blockchain-based infrastructure.

And then Lioness jumps into the conversation and the Space goes completely off the rails.

If you follow Bitcoin, treasury companies, self-custody, financial markets, or the evolution of Bitcoin infrastructure, this is a conversation you’ll want to hear.

It’s a market-focused Space covering Bitcoin, Entropy Lab, paper Bitcoin, fractional reserves, Bitcoin treasury companies, transparency, self-custody, tokenized stocks, blockchain-based TradFi, and the future of financial markets.

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