Exactly. The author says: > You can’t lose your Bitcoins – you just keep them on chain, and no exchange going bust will affect your position. You absolutely c

Exactly. The author says: > You can’t lose your Bitcoins – you just keep them on chain, and no exchange going bust will affect your position. You absolutely can lose your Bitcoins if your private keys are compromised. Large institutions can and do get hacked or have money embezzled all the time.