Quote from: philipma1957 on Today at 09:12:04 PM

Quote from: OgNasty on Today at 08:48:20 PM

I see rumors circulating online about rumors that big banks may soon be able to custody your crypto. Meaning that you’ll be able to have (for example) Bank of America hold onto your Bitcoin for you instead of an exchange or self custody. I think this will go a long way towards making mortgages backed by Bitcoin a reality for the masses. It could also spur more adoption from people who avoid crypto exchanges and don’t want to self custody, which I imagine is a lot.

If BOA or Wells Fargo would custody BTC and it was FDIC insured up to 250k Btc would whale bigly.

I agree the potential is there. Older investors that aren’t tech savvy would certainly appreciate it and likely feel more comfortable making their first Bitcoin purchase. I think the ETF does give those people a good option, not having to pay a management fee would make a bank a better option. Only downside is they’ll operate based on a fractional reserve, so they’ll be loaning out your BTC and likely paying a tiny bit of interest and selling BTC that doesn’t exist to customers. So it will be a double edged sword and a likely disaster in the event of a bankruptcy or major recession, but progress in assimilating with the existing system for those who want that.