As the world moves towards a more digital future, financial institutions are trying to prevent a digital bank run. They want to limit how much money you can send to bitcoin exchanges, in order to protect their deposit base. The reason for this is that bitcoin is a direct alternative to a bank account, and is often referred to as a “swiss bank in your pocket”. Bitcoin is the most liquid store of value, and can be sent around the world instantly.
I’m telling you now, get your stack locked in and move it to cold storage – otherwise when you come to buy it, you may not be able to. First they will limit how much you can send to a bitcoin exchange, then they will use a reason such as ‘financial stability’ to block you from sending money to bitcoin exchanges altogether. Exchanges may even be shut down, as bitcoin is blamed for the coming global banking crisis. I’m confident that during this time, banks will try to limit access to digital assets as much as possible.
The key is to protect yourself and your assets now. Don’t wait until it’s too late – take control and ensure your funds are secure. Move your assets off exchanges, and into cold storage. It may seem like a lot of effort now, but it will be worth it in the long run.