Sadly, not everyone will choose to self custody their #bitcoin, and instead are choosing to gain exposure through owning ETFs, and stocks like #MSTR.
How bad is this for Bitcoin?
nostr:npub1az9xj85cmxv8e9j9y80lvqp97crsqdu2fpu3srwthd99qfu9qsgstam8y8 & nostr:npub1emdtsxly9m68m00x206t574jttp65vk0c2m89ms038q047yz7ylqcac9aw weigh in on this question in BR089.
Sadly, not everyone will choose KYC-free #bitcoin, and instead are choosing to gain exposure through owning KYC'd Bitcoin.
How bad is this for Bitcoin?
Absolutely nobody will weigh in to discuss this.
Tbh I don't think its that bad. Perhaps not great, but it is what it is.
I have money locked in an IRA, was I going to let it sit there in meaningless mutual funds, or buy an ETF? I can't take it out without big tax implications anyways. Perhaps the ETF makes sense for that!?
So... Why not both? Self custody where you can, buy the ETF where you have to....
Is it bad for bitcoin? Bitcoin is a protocol, it doesn't care who owns it. Owning more doesn't give the owner more power except to move price in infinibucks. I run two nodes, and my vote still counts, no matter how much saylor acquires. He wants to be a bitcoin bank for normies. Let him. I'll stack and stack and stack too.
