It is quite unfortunate. As a more meaningful percent of bitcoin move out of self custody into 'institutions' and 'custodians', it becomes more likely that paper bitcoin can be sold ad infinitem, like what we've seen with gold over the last few decades.

This destroys one of the most fundamental values of bitcoin, 21 million.

The number of people with very large audiences talking about why one should NOT self custody but instead buy ETFs or keep coins on 'trusted' exchanges is mind boggling. Just to call out a few: Wolf of All Streets (he and Gary Cardone had a video yesterday where they talked about most ppl should not self custody), PlanB (the guy who made the now debunked "stock to flow" price models), Fred Krueger (dotkrueger on twitter).