Bloomberg Analyst Balchunas Questions Coldcard Security, Cites Team Size
Eric Balchunas of Bloomberg suggested that Coldcard's small team could be a security risk, arguing that paying fees for Coinbase, Ledger, or spot Bitcoin ETFs might be justified.
Bloomberg ETF analyst Eric Balchunas expressed concerns about the security of hardware wallet Coldcard, noting that the project is maintained by a team of roughly five people. He implied that such a small team could struggle to match the security standards of larger organizations.
Balchunas contrasted Coldcard with established custodial services like Coinbase and Ledger, as well as spot Bitcoin ETFs. He argued that the extra fees charged by these providers are worthwhile because they offer more robust infrastructure and oversight.
The comments highlight ongoing debates in the crypto community about the trade-offs between self-custody and third-party solutions.
Source: Cointelegraph