Bitcoin Analyst PlanB Sparks Debate With Move to Bitcoin ETFs
Bitcoin advocate and analyst PlanB has sparked a lively debate among the Bitcoin community. He recently shifted his self-custodied Bitcoin holdings into spot Bitcoin exchange-traded funds (ETFs), a move that has drawn both praise and criticism.
PlanB, known for his stock-to-flow Bitcoin price model, has chosen to manage his digital assets like traditional investments. This decision allows him to avoid the responsibility of handling private keys, providing him with greater peace of mind. The move also spares him capital gains tax under the Netherlands' tax code, as selling Bitcoin is not taxed.
The debate surrounding PlanB's decision revolves around the preference for direct control over assets versus trusting others to manage them. Some Bitcoin advocates praise his pragmatic approach, while others argue that it conflicts with Bitcoin's foundational ideals of decentralization and self-custody.
PlanB has added the Bitwise Core Bitcoin (BTC1) spot Bitcoin ETF to his portfolio. He liquidated his Bitcoin holdings through this ETF on the SIX Swiss Exchange, marking a significant shift in his investment strategy.
PlanB's move to Bitcoin ETFs has sparked a conversation about the balance between convenience and control in Bitcoin investing. While some appreciate his approach, others question whether it aligns with Bitcoin's core principles. Regardless, PlanB's decision highlights the growing acceptance of Bitcoin as a mainstream investment option.
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