195: Bitcoin Demystified (Part 2): The 3 Ways To Own Bitcoin Absolute Trust Talk podcast

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195: Bitcoin Demystified (Part 2): The 3 Ways to Own Bitcoin

5d ago 18:23

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Ready to own Bitcoin but not sure where to start? In Part 2 of our cryptocurrency series, host Kirsten Howe continues her conversation with Jirayr Kembikian, CFP® and Managing Director of Citrine Capital, to break down the three distinct ways to acquire and hold Bitcoin—each with its own unique trade-offs. Jirayr walks through everything from Bitcoin ETFs (the easiest and most familiar option) to exchange custody and self-custody, explaining why he believes "the only wrong answer for Bitcoin allocation is zero." He reveals the critical phrase Bitcoin purists use—"not your keys, not your coins"—and why understanding custody matters for your financial security. You'll discover why Bitcoin-only exchanges are safer than multi-crypto platforms, learn about the estate planning risks of keeping Bitcoin on exchanges, and understand why a 2-3% allocation keeps you market neutral. Perhaps most surprising: you don't need $112,000 to get started. Bitcoin is divisible into 100 million Satoshis, meaning you can start with as little as $10 through dollar-cost averaging. Whether you're considering your first Bitcoin purchase or evaluating your current approach, this episode provides the practical guidance you need to make informed decisions about cryptocurrency ownership.

Time-stamped Show Notes:

0:00 Introduction

1:58 Bitcoin ETFs approved last year—the easiest approach using familiar brokerage accounts.

2:57 ETF advantages: Clean titling for trusts, beneficiary designations, and zero complexity beyond buying and holding.

3:58 ETF trade-offs: Not actual Bitcoin in your possession, custodial risks, and varying expenses depending on the fund.

4:41 Buying Bitcoin on exchanges—the historically most common method before ETFs existed.

5:23 Critical recommendation: Bitcoin-only exchanges minimize attack vectors compared to multi-crypto platforms.

6:23 Exchange custody risks: Customer lockouts, poor service, theft, and loss of funds plaguing the space.

7:22 The worst form of ownership: Keeping Bitcoin on exchanges presents maximum vulnerability.

7:54 "Not your keys, not your coins"—the phrase that defines Bitcoin security philosophy.

8:35 Estate planning dangers: Exchanges often restrict account titling and lack beneficiary options.

10:00 Self-custody—the superior method that requires responsibility and practice, like learning to drive.

10:45 The wallet analogy: Cash in your possession versus cash floating in cyberspace at the bank.

11:15 Self-custody advantages: Complete control means only you have access to your Bitcoin.

11:45 Self-custody risks: Lost passwords mean lost Bitcoin forever with no password reset option.

12:35 How Citrine Capital has allocated Bitcoin since 2020 for clients who didn't opt out.

13:56 Surprising reality: Most clients use ETFs despite self-custody being theoretically superior.

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138 episodes

195: Bitcoin Demystified (Part 2): The 3 Ways to Own Bitcoin

Absolute Trust Talk

published 5d ago