PlanB: Looks like I’m no longer Bitcoin maxi

Renowned analyst PlanB announced he had transferred his BTC savings into ETFs based on the flagship cryptocurrency.

“Yes I know, not your keys not your coins. But it is just easier for me to manage bitcoin the same way as equities and bonds. Also, not having to hassle with keys gives me peace of mind. I guess I am not a maxi anymore,” the expert posted.

According to PlanB, switching to spot ETFs is a “logical step in bitcoin adoption” made after managing digital currency via a non-custodial wallet. However, not all crypto community members support PlanB’s decision.

Tech analysis expert Ali Martinez responded by quoting the “Matrix” (1999).

“You aren’t a maxi, you chose the blue pill, you chose the matrix,” he posted.

Messari co-founder Dan McArdle believes ETFs can be helpful in speculations but not as a “hedge against global fiat.”

Answering questions about the taxes related to the transfer, PlanB stated that since his tax residency was in the Netherlands, there was no tax on realized gains. That said, there is a relatively small “wealth tax,” which amounts to about 2% of the net wealth per year.