Putting price action aside, #Bitcoin is insurance against legacy system financial collapse. To see what that looks like, consider previous financial collapses like the Weimar Republic, or more recent crises like the Cypress bail-in of 2013.

Institutions, over-leveraged and strapped, seize assets custodied by centralized institutions. Sometimes those pay out the victims later, but in the old currency units that have been hyperinflated to worthlessness.

Buying a #Bitcoin ETF is like buying fire insurance on a house, and then leaving the contract inside. When the house burns, so goes the contract.