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@PhyrexNi I'd be embarrassed to exchange my BTC for less BTC 🫣

@PhyrexNi There's basically nothing left for ordinary people to do~

@PhyrexNi Big money likes easier custody options.

@PhyrexNi Self-custody of #BTC and holding IBIT are two different paths. IBIT can be used for brokerage-backed financing and asset inheritance, but control of the underlying Bitcoin is entrusted to a custodian.

@PhyrexNi Either the decentralized narrative of Bitcoin has been shattered.

@PhyrexNi Good afternoon, Ni Da.

@PhyrexNi Big players aren't just buying IBIT; they're outsourcing their private key anxiety and estate planning together. Only when it can be used for portfolio financing does BTC truly enter the balance sheet of a private office.

@PhyrexNi Big fish eat little fish, little fish eat shrimp.

@PhyrexNi Those prettier than me aren't as sexy as me 🍣⛅ Those sexier than me aren't as pretty.

@PhyrexNi What is the approximate cost of financing?

@PhyrexNi After the threshold was lowered to 1 million, the channel for large investors to enter the market has indeed become much smoother. The scale of 5 billion shows that the demand from institutions is quite substantial.

@PhyrexNi You're absolutely right, security is very important.

@PhyrexNi's price surged.

@PhyrexNi It's about reducing storage risks.

@PhyrexNi People used to buy BTC alone, but institutions are joining, showing a more mature market

@PhyrexNi I learned something new!

@PhyrexNi Lowering the threshold to 1 million essentially changes BTC from "private property" to "account assets," making it easier for traditional funds to enter the market. The cost is DeFi and on-chain autonomy.

@PhyrexNi paper I bet nobody's more adventurous than me 💡🤩 I'm not shady, just look 🌻

@PhyrexNi task Playing around is playing around💛I'm showing you good luck😅I'm not kidding🤣

@PhyrexNi season Playing around is playing around👏I'm showing you good fortune🙏I'm not kidding💜

@PhyrexNi okay I bet nobody's more adventurous than me 😸 I'm not shady, just look 🤩

@PhyrexNi I doubt anyone has played this game more freely than me 📌🏹 I'm not being shady, just look!

@PhyrexNi Not your keys, yes your coins

@PhyrexNi 我認可在某些情況下用中心化機構做託管,這個是把所謂的"絕對安全"交給了合規和法律保障. 很多人說買加密貨幣not your key not your crypto. 無論這個設備多麼中心化, 你保管的多麼嚴絲合縫, 都抵抗不了綁架, 也就是所謂的扳手攻擊. 你的security做得再萬無一失, 你也無法保證你是否會遭遇實體攻擊

@PhyrexNi Then the Americans can pass a law to confiscate your IBIT!

Large investors switching to IBIT addresses the real pain point of large-scale self-custody, but the costs are also substantial. Moving assets from on-chain self-custody to institutional custody exposes them to various regulatory constraints, and accounts are subject to the possibility of freezing. Furthermore, while using IBIT for low-interest cross-border financing may seem to increase returns, significant adverse exchange rate movements can directly raise financing costs and even trigger margin calls. Therefore, this is more suitable for institutions like family offices; ordinary small investors don't actually benefit from these advantages and instead bear the management fees and new risks associated with custody.

@PhyrexNi The main problem is that the risks of kidnapping and extortion are too high.

@PhyrexNi I bet nobody's having more fun than me 🥁💫 I'm not being shady, just look!

@PhyrexNi I'm so horny! ✌️🕯️ Anyone want to give me a sharp critique of my luck?

@PhyrexNi Does IBIT have friction costs?

@PhyrexNi Actually, another reason is taxes. Filing taxes is relatively easy.