Covers the difference between real, self custodied bitcoin and paper claims, ETFs, and treasury companies, how those paper layers can distort price discovery, and a fair statement of the case for why financial products widen access.
As Bitcoin financialises, a growing stack of paper claims, spot and futures ETFs, derivatives, and debt funded treasury companies, sits on top of the real asset. I examine how those layers can compress volatility and slow genuine price discovery, why holding real, self custodied bitcoin is the sound alternative, and, stated fairly, the case that financial products widen access and accelerate adoption.
This course presents the bearer asset critique as its main lens while representing the opposing case honestly. It is educational content, not investment advice.