Michael Saylor, co-founder of MicroStrategy, has voiced strong support for Bitcoin self-custody, asserting that both individuals and institutions should have the autonomy to determine their preferred custody methods. In a recent post on X, Saylor stated, “I support self-custody for those willing and able, the right to self-custody for all, and freedom to choose the form of custody and custodian for individuals and institutions globally.”
Saylor’s remarks come in response to his earlier comments regarding the risks associated with Bitcoin custody being handled by “paranoid crypto-anarchists.” This statement sparked considerable debate, with Saylor warning that such arrangements could heighten the risk of government intervention and seizure. He articulated his concerns, saying, “When Bitcoin is held by a bunch of paranoid crypto-anarchists, who aren’t regulated entities, don’t acknowledge government, tax, or reporting requirements, that increases the risk of seizure.”
Vitalik Buterin, Ethereum’s co-founder, was quick to counter Saylor’s perspective, labeling it “batshit insane” and arguing that it fosters a regulatory capture mentality that contradicts the core principles of cryptocurrency. Supporting Buterin’s stance, Jameson Lopp, co-founder of self-custody platform Casa HODL, emphasized the critical nature of self-custody for maintaining the integrity of the Bitcoin network. He noted, “Self-custody is not merely important to individual Bitcoin holders; it’s vital for the continued strengthening and improvement of the entire network.”
Additionally, Samson Mow, an advisor for nation-state Bitcoin adoption, highlighted the dangers associated with relying on third-party custody solutions, remarking, “Just because you’re a paranoid crypto-anarchist doesn’t mean they’re not after you.”
This discourse underscores the ongoing friction within the cryptocurrency community surrounding the debate over self-custody versus third-party custody, alongside the broader regulatory implications for Bitcoin’s future.
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