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.
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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Yesterday saw one of the biggest % changes in self-custody in the past six months — while roughly 70,000 BTC have been withdrawn into self-custody since the collapse of SVB on Friday.
