We owe Chinese Bitcoin miners a standing ovation for the service that they have provided to Bitcoin. They have secured the network for years and paved the way for the industrialization of Bitcoin mining.
Some see this event as a warning sign, some this as an opportunity. In the long-term, China has effectively removed the last area of centralisation that Bitcoin has left.
HODLers are acquiring more than the speculators are selling and thus, there is a good chance that a price floor has been set for this accumulation period.
We at Bitvice, actually think it is great news that the regulatory bodies finally recognises Bitcoin as a serious asset and that it will become a licensed product for financial services. But, we all have a fight ahead of us on privacy, self-custody and self-sovereignty.
The aim of this article is to detail the standard operating procedure for investors and advisors to self-custody Bitcoin.
Bitcoin does not promise high returns, as there is no central authority or provider to ‘promise’ anything in the first place.
It’s fair to critique something that goes against the grain. There are a lot of points why Bitcoin could fail, but there are also valid arguments as to why it won’t.
As Bitcoin continues its upward trend, financial advisors will play an imperative role in bringing this asset to investors’ portfolios.