"Safety concerns As the minting process for wrapped cryptocurrency is similar to centralised bank lending, users have to trust that custodians won’t run away with their bitcoins. This defeats the purpose of a decentralised system, which is the raison d’être behind crypto. If the custodian goes broke, you won’t be able to convert your wBTC token to claim the bitcoin that it was backed by, and there could be bank runs, leaving those who can convert on a first-come, first-serve basis.

As people panic to draw out the last bits of liquidity, people are willing to trade their wrapped assets well below par to extract some value before there is nothing left to redeem. If the custodian that is responsible for managing the peg goes down, your IOU is rendered worthless, regardless of the value it’s meant to represent."

Excellent read

Just use Bitcoin. Wrapped BTC is a scam designed to steal your BTC.