Nullius_123Platinum | QC: ETH 304, BTC 89, CC 81 | TraderSubs3 months ago
A few European banks have been offering custody for a while. You log on, and there is your fiat checking account, your fiat savings account, and your BTC account.
For many millions of people, this will be very attractive. They don't have to navigate the wild west of wallets and all that, they merely switch from one account to another. And if something goes wrong, they have a customer service number to call. This is very big news. BTC and ETH (the only cryptos the big banks are likely to hold, at least initially) should see a bump from this.
"Not your keys, not your Bitcoins." Andreas Antonopoulos
The banksters can't just "print" Bitcoins. They've figured out it's costly to mine them. As Bill Bonner points out in "Hormegeddon," the easiest way to acquire wealth is to just take it. They confiscated gold before. They'll come up with some bullshit excuse and confiscate Bitcoins, too.
The banking system is run by criminals.
Bitcoin gives people a way to opt out, with at least some of their wealth.
Giving your Bitcoins to a banking system run by criminals is beyond foolish.