- Social media analyst and renowned Bitcoin maximalist PlanB has announced he’s moving his BTC to spot ETFs.
- The rationale for the reason is peace of mind, making it simpler for the analyst to manage his BTC alongside any equities he may own.
- The move drew criticism from some of PlanB’s followers, who strongly believe BTC should be held via self-custody no matter what.
A big drawcard of spot Bitcoin ETFs was the simplicity of custody.
While Bitcoin maxis will cry foul for anyone daring to suggest HODLing by any means other than a self-custodial hardware wallet, the reality is a lot of people can’t be bothered managing private keys.
This barrier to entry was solved by institutions such as BlackRock offering stock-esque alternatives to owning Bitcoin.
But now, even long-time BTC investors are moving their assets into ETFs.
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Bitcoin Maxi Goes Mini As Spot ETFs Present Simplicity
Social media analyst, PlanB, has been a major Bitcoin bull for several years. His Twitter / x feed is filled with deep dives into the digital asset, using unique models to interrogate BTC charts and provide useful data and insights.
His content tends to align with most other Bitcoin maxis – BTC is the king and every other project is a joke.
So, you might expect someone like this to have all their assets in a self-custodial wallet with security protocols equivalent to Fort Knox.
But for PlanB, that is no longer the case, with the analyst announcing he’s moved all of his BTC into spot ETFs.
Mixed Reception to PlanB’s ETF Move
The primary reason for the move was straightforward and one that many can relate to. Managing private keys can be a little scary, and although it’s technically one of the most secure and decentralised methods of holding wealth, owning stocks and bonds through reputable fund managers is simply simpler.
However, given PlanB’s reputation among the community, his announcement was met with some criticism.
Meanwhile, some declared the entire point of Bitcoin was to promote financial freedom – and that gatekeeping individual financial decisions goes against its values.
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