Great points. Thanks for your response. Obviously everyone is going to come to a different conclusion about what the correct asset allocation is for them and that will change over time.

Self-custody is a really powerful tool. My grandfather actually had to flee his country to escape genocide when he was 10 years old and his family smuggled gold out of the country by hiding it in his clothes. So I get the value of self-custody and the benefits it provides.

Your point about "not trusting the state" is an interesting one. I'm lucky to live in the USA who I think is more trustworthy than most governments (at least for now). I'm willing to let reputable custodians hold stocks for me, but feel empowered knowing how to move stocks asset to btc self custody if needed in a time of crisis.