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Opinion
Matt Levine

Finally a Good Place to Put Your Bitcoins

Institutional-grade custodianship for crypto might open new doors for investors.

It's hard to store something so slippery and toxic.

It's hard to store something so slippery and toxic.

Bloomberg

This post originally appeared in  Money Stuff.

Oil is a perfectly normal thing for an institutional investor to invest in. “I think oil prices will go up so I’m gonna buy some oil”: very common thought process. But if you are a hedge fund, or a pension fund, or an endowment, and you think oil prices will go up, and you want to buy oil, you have a bit of a problem, which is: Where will you put it? Oil is … slippery? “It is also highly toxic, very difficult to store, and it smells bad,” my Bloomberg colleague Tracy Alloway once wrote. “Don’t try to buy a barrel of oil,” a broker told her; “It’ll kill you.”