Crypto Expert PlanB Moves Entire Bitcoin Holdings to ETFs, Sparking Debate

Well-known Bitcoin analyst PlanB has taken a significant step by transferring all his holdings from self-custody into spot Bitcoin ETFs, aiming to simplify asset management.

The crypto expert acknowledged that this move distances him from the maximalist philosophy, as he now treats Bitcoin more like traditional investments such as stocks and bonds.

One of the main reasons for this decision, according to PlanB, is the convenience of not having to manage private keys. He expressed relief at avoiding the risks associated with self-custody, including theft and hacking. This concern is particularly relevant given that crypto-related hacks surged by 40% in 2024, with attackers stealing over $2.3 billion, according to on-chain security firm Cyvers.

While Bitcoin purists argue that holding private keys is essential to financial sovereignty, PlanB believes ETFs are a logical next step for mainstream adoption. He even questioned whether buying shares in a Bitcoin-focused company like MicroStrategy would be viewed any differently. His remarks sparked debate among his 2 million followers, with some questioning whether the transfer could trigger a taxable event.

Addressing tax concerns, PlanB clarified that in his home country, the Netherlands, capital gains taxes do not apply to realized profits. Instead, residents pay a wealth tax based on an assumed annual return. Under this system, he explained, the government estimates a 6% return on net wealth and applies a 30% tax, meaning individuals pay approximately 2% of their total net worth each year.