(...)
But insurance will never cover the value of all the assets. Custody with insurance is a scam
Not saying you're wrong or right. Just wondering why you state this as a fact.
Amount of coverage
100 million USD
For digital assets with option to purchase additional excess insurance up to $500 million to supplement BitGo’s $100 million policy.
At the time of writing, $ 100M is roughly 2879
BTC and considering this covers ALL the assets held by BitGo for its clients I don't even want to know what % of the total that covers.
I don't think it can be paralleled to the money covered up to a certain point in bank accounts (i.e. €100k in Europe, $ 250k in the US etc.)
To me, it's a scam because it bring clients into believing all their funds are secured. That's not the case.