“Zero-cost excluding the cost of insurance” is more precise here. Bitcoin is zero-cost^ to store for any dollar amount. So are gold bars. Insuring them agains

“Zero-cost excluding the cost of insurance” is more precise here. Bitcoin is zero-cost^ to store for any dollar amount. So are gold bars. Insuring them against theft and loss is not zero-cost. A shovel for burying gold in your yard is cheap (high capex, low opex), but if a sinkhole opens up and eats your gold, you’re probably out of luck. A hard drive for your Bitcoin is cheap (high capes, low opex), but if a lightning bolt burns your house down and you aren’t paying for offsite backups, you might be out of luck. What degree of loss do you wish to insure against (accident, damage, theft, loss) — and what percentage of your money are you willing to spend on that? ^ “I bury coins on my land” seems zero-cost, but it just means that you’re paying property tax to insure against treasure hunters uncovering your hoard with a metal detector. External costs need to be accounted for.