100% agree with you @DarthCoin

I've followed Fred (unfortunately) since earlier this year when he was telling people he would sell over 50% of his bitcoin in order to buy ETF products instead because of how much he trusted it.

It is a disservice to the bitcoin mission to have people like this advocating for owning pieces of paper IOUs from the corrupt fiat system that bitcoin was made to save us from.

I also watched his video (linked by OP). He makes no argument for there not being paper bitcoin other than, trust me bro. That is it. His entire video is that people like blackrock are too big and too reputable to play games and since they are regulated, of course they will do what they are supposed to.

Search online for how many times blackrock and other wall st banks have been fined by regulators for not doing what they were supposed to do. Now multiply that by 100 because 99/100 times they don't get caught criming.

I have no proof that there is paper bitcoin. But to state there is no paper bitcoin without something like proof of reserves at a minimum (which also doesn't necessarily prove no paper as it doesn't account for liabilities) is simply bullshit.