Michael Saylor, co-founder of MicroStrategy, has publicly voiced his support for the self-custody of Bitcoin, asserting that individuals and institutions should have the autonomy to select their preferred 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 the freedom to choose the form of custody and custodian for individuals and institutions globally.” His remarks underscore the belief that Bitcoin can thrive under various investment strategies, welcoming diverse market participants.
This endorsement comes on the heels of his previous comments regarding the dangers of entrusting Bitcoin custody to what he described as “paranoid crypto-anarchists.” Saylor argued that such an arrangement raises the potential for government seizures, explaining, “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.”
In response, Ethereum co-founder Vitalik Buterin lambasted Saylor’s perspective, labeling it as “batshit insane” and contending that it promotes a regulatory capture mindset, which contradicts the core principles of cryptocurrency.
Support for Buterin’s viewpoint came from Jameson Lopp, co-founder of the self-custody platform Casa HODL. He emphasized the critical nature of self-custody for maintaining the integrity of the Bitcoin network, stating, “Self-custody is not merely important to individual Bitcoin holders. It’s important for the continued strengthening and improvement of the entire network.”
Additionally, Samson Mow, an advisor on nation-state Bitcoin adoption, echoed concerns regarding the risks associated with third-party custody, cautioning, “Just because you’re a paranoid crypto-anarchist, doesn’t mean they’re not after you.”
The ongoing discourse reflects the deep-seated tensions within the cryptocurrency community surrounding the issues of self-custody versus third-party custody, alongside the broader regulatory challenges facing Bitcoin’s future.
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