Michael Saylor, co-founder of MicroStrategy, has reaffirmed his support for the self-custody of Bitcoin, stressing the importance of individuals and institutions having the autonomy to choose their preferred custody methods. In a recent post on X, Saylor stated, “I support self-custody for those willing & able, the right to self-custody for all, and freedom to choose the form of custody & custodian for individuals & institutions globally.”
Saylor’s comments come in response to the backlash surrounding his earlier remarks about the risks associated with Bitcoin custody being managed by “paranoid crypto-anarchists.” He suggested that this type of arrangement could elevate the risk of government seizure, asserting, “When Bitcoin is held by a bunch of paranoid crypto-anarchists, who aren’t regulated entities and don’t acknowledge government, tax, or reporting requirements, that increases the risk of seizure.”
The cryptocurrency community reacted strongly to Saylor’s statements. Ethereum co-founder Vitalik Buterin criticized Saylor’s perspective, labeling it “batshit insane” and contending that it encourages a regulatory capture approach that undermines cryptocurrency’s foundational principles.
Support for Buterin’s critique came from Jameson Lopp, co-founder of the self-custody platform Casa HODL, who emphasized the critical role of self-custody in maintaining the integrity of the Bitcoin network. Lopp stated, “Self-custody is not merely important to individual Bitcoin holders. It’s important for the continued strengthening and improvement of the entire network.”
Samson Mow, an advisor for nation-state Bitcoin adoption, also weighed in on the debate, cautioning against the dangers of third-party custody. He remarked, “Just because you’re a paranoid crypto-anarchist, doesn’t mean they’re not after you.”
This ongoing discussion underscores the tensions within the cryptocurrency community regarding the balance between self-custody and third-party custody, as well as the regulatory implications that could shape Bitcoin’s future.
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