PlanB Moves Entire BTC to ETFs for Safer Management

Popular Bitcoin analyst PlanB has announced a significant shift in his investment strategy, transferring his self-custodied Bitcoin holdings into spot Bitcoin exchange-traded funds (ETFs) to manage his digital assets like traditional investments.

In a February 15 post on X, the Bitcoin analyst detailed his decision to shift his Bitcoin portfolio into spot Bitcoin ETFs. He noted that this change lets him manage his digital assets much like traditional financial assets — comparable to stocks and bonds — while also sparing him the hassle of handling private keys, ultimately giving him greater peace of mind.

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.

“I guess I’m not a maxi anymore,” PlanB wrote, referring to Bitcoin maximalists who champion self-custody of BTC as essential for maintaining complete control over digital assets.

Bitcoin advocates often emphasize the necessity for users to maintain complete control over their digital assets. However, the responsibility of self-custody is not without its challenges. It demands vigilant security measures to ensure that private keys remain protected from theft, hacking, or even inadvertent loss, underscoring the inherent risks associated with managing one’s own assets.

PlanB’s announcement triggered a range of reactions among his followers on X. Some praised his pragmatic strategy, while critics argued that embracing ETFs conflicts with Bitcoin’s foundational ideals of decentralization and self-sovereignty.

X user Dan Held argued that the debate isn’t about maximalism per se, but rather centers on whether individuals prefer to retain direct control over their assets. “Do you trust yourself or do you trust someone else?” he wrote. 

Responding to an X user, PlanB stated that he didn’t know that ETFs were so “controversial.” “In my view ETFs are a logical step in bitcoin adoption, next to holding your own keys,” he added.

I honestly didn't know ETFs were so controversial. In my view ETFs are a logical step in bitcoin adoption, next to holding your own keys. Out of curiosity: would it be different in your opinion if I would have bought (Micro)Strategy instead of ETF, or would that be equally evil?

Some X users speculated that PlanB’s move to ETFs might trigger a taxable event. However, the analyst later clarified that, under the Netherlands’ tax code, selling Bitcoin does not incur capital gains tax.

“We have unreal capital gains tax (wealth tax): the government assumes you make ~6% return on your entire wealth (per Jan 1st) and you pay ~30% tax. So you pay ~2% of your entire net wealth, every year,” PlanB wrote. 

Netherlands has no (realized) capital gains tax, so selling is not a tax event. We have unreal capital gains tax (wealth tax): the government assumes you make ~6% return on your entire wealth (per Jan 1st) and you pay ~30% tax. So you pay ~2% of your entire net wealth, every year

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.