This is confusing me, it takes an onchain transaction to self custody. 30%+15%=45% self custody and 55% leave it on their exchange? Is this what they’re implying?
Interesting insight from nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en - Most people don't self custody #bitcoin 
Discussion
There's also off-chain (lightning).. nostr:npub139nl9yxvwayl60fr97m3zrq9md6x5v0uup344mkyuyg6mzlusyxs4zkwf4 👆
Guess you’re right there with lightning. How do they know which onchain transactions go to self custody (15%) vs the other onchain transactions (30%)? A transaction shows it going to a bitcoin address. How would they know which addresses are self custodied by their users vs an address that someone else holds the keys to?
We’re saying only 15% self custody, about half the amount of people who make any sort of onchain tx
All bitcoin is in someone’s custody. I’m curious how you know 15% gets to a purchaser’s wallet that holds their own keys? Where is the other 85% going? Staying on nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en ? Sending to other exchanges? Straight to purchases?
I’m not doubting your numbers , just curious as to how you came to this conclusion and what people are doing. It seems way low to me for the buy and hodl narrative these days.