Bitcoin Believers Face a Tough Choice: Safety or Sovereignty?

Bitcoin's early adopters are facing a tough decision. They once believed in keeping their own keys and controlling their own money. But now, they're starting to change their minds. Why? Because of something called "wrench attacks. " These are real-life threats where people are forced to give up their Bitcoin. A decade ago, wrench attacks were just a joke. But now, they're a real problem. Jameson Lopp, a well-known Bitcoin expert, has been tracking these attacks. He's found over 200 cases in at least 34 countries. In just the first 10 months of 2025, there have been 52 attacks. That's more than one per week! Even long-time Bitcoin users are worried. Willy Woo, a famous on-chain analyst, recently admitted he's not keeping his own Bitcoin anymore. He thinks big holders should consider other options. The Bitcoin Family, known for living off Bitcoin, has also changed their approach. They've split their seed phrases and encrypted data across four continents. This way, even if someone threatens them, they can't give up all their Bitcoin. Some Bitcoin users are turning to Wall Street for help. They're moving their Bitcoin into spot ETFs. This way, they don't have to worry about physical threats or losing their keys. But not everyone is happy about this. Alex Gladstein, a Bitcoin advocate, is worried. He thinks this could lead to more control by traditional finance. There's a middle ground too. Some companies are offering "collaborative custody. " This means users keep control of their Bitcoin, but they also have backups and recovery options. Anthony Yeung, from CoinCover, calls this a "digital Fort Knox. " It's a way to have both security and control. But not everyone agrees. Tony Yazbeck, co-founder of The Bitcoin Way, thinks this is a bad idea. He believes that trusting a middleman is riskier than keeping your own keys. He advises people to stay quiet about their wealth and handle their keys properly. The future of Bitcoin is unclear. Some people think it's becoming more like traditional finance. Others believe it's still about self-sovereignty. One thing is sure: the line between freedom and fear is getting blurry.