The Commentary on bitcoin in relation to FTX...

is quite enlightening.

Anyone that believes FTX failing has any impact on bitcoin's long-term future doesn't understand bitcoin, IMO.

When Bear Stearns and Lehman crashed were pundits calling for the collapse of the value of a Dollar in the long-term.

There were short-term implications on assets during the financial crisis.

But bitcoin's potential place as a global monetary asset in the future has nothing to do with the prospects of an exchange.

One argument I think is valid is that this could slow the adoption of bitcoin. If I can't trust one of the most well known names in the space to hold my bitcoin than how can I trust bitcoin. I know the response from you all is going to be "not your keys, not your coin", but self-custody is just not something that the later bitcoin adopters will do at scale IMO.

Net, I am more bullish after seeing the media response to the FTX situation. Just shows that most people (even talking heads that are proponents of bitcoin) don't understand what bitcoin truly is.