Oddbean

It is true that self-custody Bitcoin is obviously the only "real" way to own Bitcoin, but it's nice to be able to invest without taxes for the money I leave in fiat. I'd rather have it tied to BTC than tied to inflationary fiat currencies. The rest, ofc, goes to buying actual Bitcoin.

Wait, it IS a fiat currency. Tying a fiat currency to the price of something else doesn't just negate the fact that you have fiat currency. You don't hold it, you don't own it. You own a fiat IOU. You've also created a false dichotomy that is really only one option. Buy fiat ETF that is only tied to Bitcoin price or fiat in some other fiat instrument. That's still just fiat. The alternative is eating the taxes and just buying actual Bitcoin. You're risking 100% to 'save' 30%(?) instead of directly controlling an asset that is expected to increase in the 1000s%... You do you. Someone has to fill the honeypots when the beasts need feeding I guess.

Because you're just filling a potential honey pot with empty fiat for relatively small tax 'savings?' What will you have saved if they decide to nationalize 'your' account? You do you, but 30% or whatever in taxes isn't worth it to me. I'd rather control my assets and not feed the starving beast when the time inevitably arrives. The US has a history of doing exactly this with gold and Canada doesn't exactly have freedom bells ringing either.