Self-custody surge: 70K Bitcoin have been sent to self-custody since the collapse of SVB

Bitcoin investors demand greater control with surge in self-custody withdrawals as significant BTC volume leaves markets.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Quick Take

  • Self-custody of Bitcoin has continued to grow rapidly in the past week due to concerns in the banking sector.
  • Being able to control your Bitcoin is one of its advantages, as opposed to being at the whim of a bank — where you have no control of their lending capabilities.
  • Yesterday saw one of the biggest % changes in self-custody in the past six months — while roughly 70,000 BTC have been withdrawn into self-custody since the collapse of SVB on Friday.
Illiquid % Change: (Source: Glassnode)
Illiquid % Change: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Bitcoin BTC (24h)
$79,635.74 -1.29%
Market Cap $1.6T
24H Volume $33.84B