Simon Dixon, CEO and co-founder of BnkToTheFuture, says three developments would lead him to sell all of his Bitcoin and buy gold: losing the ability to hold it in self-custody, no longer being able to spend it peer-to-peer without a government intermediary, and doubts about its fixed supply of 21 million as a hedge against long-term currency debasement. He would sell immediately if any of these properties were called into question. In his view, the main issue is not whether Bitcoin is adopted, as he expects institutional adoption to follow an unprecedented trajectory, but whether financial custodians, Wall Street-owned miners, and treasury companies centralize the network. He also argues that central banks are buying gold rather than Bitcoin because controlling your own keys provides protection against an increasingly centralized monetary and economic system.
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