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I understand the differences, and why cold storage is secure. But practically speaking, what could go wrong with someone's money if stored entirely in IBIT? I'm guessing that if Blackrock goes down for any reason, bitcoin value (whether in cold storage or on exchanges) will crash as well. I just don't see the need to have cold storage now, after IBIT was launched. Besides, it allows covered calls, and other option strategies to make more gains than bitcoin itself. Can someone point out what I might be missing?
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