Former “bitcoin maximalist” and cryptocurrency analyst PlanB has moved his capital from bitcoin savings to spot ETFs based on digital gold.
⚠️ Disclosure ⚠️
I have transferred my bitcoin to ETFs.
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.
— PlanB (@100trillionUSD) February 15, 2025
“Yes, I know, not your keys, not your coins. But it is easier for me to manage bitcoin like stocks and bonds. Moreover, not dealing with keys gives me peace of mind. I think I am no longer a maximalist,” he wrote.
The specialist views exchange-traded funds as a “logical step in bitcoin adoption,” following direct management of coins through a non-custodial wallet.
Some community members deemed PlanB’s decision a mistake.
Technical analysis expert Ali Martinez responded with a reference to the 1999 film “The Matrix.”
You aren’t a maxi, you chose the blue pill, you chose the matrix! pic.twitter.com/UIuCbioWTA
— Ali (@ali_charts) February 15, 2025
“You are not a maximalist, you chose the blue pill, you chose the matrix,” he wrote.
Messari co-founder Dan McArdle noted that ETFs are suitable for speculation, but not for “hedging against global fiat.”
This isn’t a maxi thing.
This is “why do you hold bitcoin” thing.
If you hold it as a short term speculator, ETFs are fine.
If you hold it as a hedge against global fiat, a type of deep insurance completely unavailable elsewhere, obv you need to hold your own keys.
— Dan (@robustus) February 15, 2025
In response to questions about taxation, PlanB stated that in his country, the Netherlands, there is no tax on realised gains, so the sale of coins does not fall under the rules. Instead, there is a “wealth tax”—about 2% of total capital per year.
According to CoinShares, the market correction has increased interest in purchasing shares of crypto funds.