MicroStrategy founder Michael Saylor has come out in support of non-custodial storage of cryptocurrencies. Presumably, this was his response to criticism in the community after a recent interview.
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. #Bitcoin benefits from all forms of investment by all types of entities, and should welcome everyone.
— Michael Saylor⚡️ (@saylor) October 23, 2024
On Madison Reidy’s podcast, the entrepreneur recommended holding bitcoins in the largest banks. He called the possibility of state-sanctioned seizure of digital gold from private individuals a “myth,” and characterized those who disagree with him as “paranoid crypto-anarchists and scammers driven by a thirst for profit.” Saylor called for trust in the government and lending institutions.
This was discussed in the context of institutional acceptance of cryptocurrency.
Saylor’s recommendations, contradicting previous statements, caused a backlash in the community.
The founder of the investment platform Bnk To The Future, Chris Dixon, associated the “turnaround” in his opinion with plans to transform MicroStrategy into a Bitcoin bank with a capitalization of $1 trillion.
Ethereum co-founder Vitalik Buterin called Saylor’s statements “utter madness” and support for a regulatory “takeover” of the crypto industry.
TV presenter and crypto investor Max Kaiser also spoke about the statements of the founder of MicroStrategy:
This Saylor post from March, 2022 show’s an understanding of Bitcoin’s value proposition.
The recent comments attacking self-custody demonstrate a regressive tendency to favor the legacy, centralized banking crooks that Bitcoin fixes. https://t.co/nWHvk4AyP6 pic.twitter.com/xrsoPB1arM
— Max Keiser (@maxkeiser) October 23, 2024
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Source: Cryptocurrency
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