Michael Saylor, co-founder of MicroStrategy, has voiced his strong support for Bitcoin self-custody, advocating for the autonomy of individuals and institutions to select their custody methods. On social media platform 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 comments come in the wake of his previous remarks regarding the risks associated with Bitcoin custody being managed by “paranoid crypto-anarchists.” These statements have sparked considerable debate within the cryptocurrency community. He argued that this approach could heighten the risk of government seizure, saying, “When Bitcoin is held by a group of paranoid crypto-anarchists, who aren’t regulated entities and don’t acknowledge government, tax, or reporting requirements, that increases the risk of seizure.”
Ethereum co-founder Vitalik Buterin sharply rebuked Saylor’s perspective, describing it as “batshit insane” and asserting that it advocates for a regulatory capture approach, which runs counter to the core principles of cryptocurrency.
Jameson Lopp, co-founder of the self-custody platform Casa HODL, echoed Buterin’s concerns, emphasizing that self-custody is crucial for the integrity of the Bitcoin network. He remarked, “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 focused on nation-state Bitcoin adoption, highlighted the dangers of third-party custody, stating, “Just because you’re a paranoid crypto-anarchist doesn’t mean they’re not after you.”
This ongoing debate underscores the tensions within the cryptocurrency community regarding the merits of self-custody versus third-party custody and the regulatory implications that could shape the future of Bitcoin.
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