Replying to Avatar Andy The Bitcoin Adviser

You have $50k in the bank, the bank can loan it out at $1m for a mortgage with fractional reserve requirements (worse in U.S.) the bank then earns 2% / $20k in profit.

At a p/e of 20x that $20k equates to $400,000 of market cap.

$20k less profits and $400k less in market cap for every $50k they let walk out the door.

Are banks protecting you from fraud by limiting your withdrawal of $50k to buy #bitcoin or do they want to protect their bottom line and their share price?

Buy #bitcoin  and self custody!

#OperationChokePoint

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Daz B 2y ago 💬 1

The only thing I can argue against this logic is who in their right mind has $50k in a bank right now? 🤣😂

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Andy The Bitcoin Adviser 2y ago

And of course non of the banks are limiting the amount you can send back the other way, that’s just fine! It’s so obvious it’s funny.