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IPFS News Link • Bitcoin

3 Ways You Can Turn Bitcoin's Volatility to Your Advantage Today

•, by Nick Giambruno

Many billions of dollars in value evaporated in minutes as this unsound institution collapsed.

It has created a genuine "blood in the streets" moment, weighing heavily on the Bitcoin price.

Bitcoiner Matt Odell summed it up best:

"This is a story of fiat incentives, shitcoin games, regulatory corruption, and counterparty risk that ended in inevitable disaster. It will serve as an expensive reminder that bitcoin held in self custody is unique in its lack of counterparty risk. You can easily and cheaply store it yourself and send it around the world without trusting anyone or asking for permission. Learn how to hold bitcoin yourself and use it in a sovereign way."

It deserves emphasis that FTX, and other companies like it, are not at all the same thing as Bitcoin—an emerging global money that nobody can inflate or control and is accessible to anyone.

For example, suppose there was an unscrupulous gold storage company that went insolvent. That wouldn't mean gold is faulty.

The collapse of FTX will undoubtedly be a drag on the Bitcoin price in the short term. But on the bright side, it will help cleanse the industry of bad actors and offer some crucial lessons.