1.5M BTC—custodied in one place. That’s 7% of all #Bitcoin sitting in Coinbase, held by ETFs, institutions, and corporations.

Just one policy shift, one regulation, one black swan event could freeze or seize it overnight.

History is clear: centralized custody means centralized control. And if you don’t hold your Bitcoin, you don’t own it.

The question isn’t if this risk matters—it’s when it will matter most.