Physical Bitcoin vs ETF: Pompliano promotes them, but 815,000 BTC are in Coinbase’s hands

Direct holding via wallet compared to financial instruments such as ETFs reopens the debate on how to best protect the so‑called “ physical bitcoin”. The choice between holding private keys and the convenience of listed products raises important questions of security, sovereignty and risk management. What is physical bitcoin and what custody options exist The concept of bitcoin physical describes the approach based on direct self‑custody of the digital currency. In this model, the user personally keeps the private keys needed to authorize transactions on the blockchain. Storage normally takes place via dedicated hardware devices or media not connected to the Internet, known as cold wallets ( Ledger , Trezor, etc.). This method differs from investing through derivative financial instruments or exchange‑traded funds such as ETFs.

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