Michael Saylor Advocates for Bitcoin Self-Custody Rights
Michael Saylor, CEO of MicroStrategy and a leading Bitcoin proponent, recently reinforced his support for Bitcoin self-custody amid industry debates. Addressing criticism over his earlier comments favoring institutional custody, Saylor clarified that crypto asset management should remain a personal choice.
In a public statement, he emphasized:
“Bitcoin benefits from diverse investment approaches. Individuals and institutions should have the freedom to select their preferred custody methods.”
His tweet further solidified this stance:
“I support self-custody for those willing & able, the right to self-custody for all, and freedom to choose custody forms globally. #Bitcoin thrives when it welcomes all entities.”
Vitalik Buterin Challenges Institutional Custody Approach
Saylor’s previous suggestion that Bitcoin holders use “too big to fail” banks for custody drew sharp criticism from Ethereum co-founder Vitalik Buterin, who called the idea “insane” and antithetical to decentralized finance principles.
Buterin’s rebuttal highlights a core tension in crypto:
- Self-custody aligns with blockchain’s ethos of individual sovereignty.
- Institutional custody may appeal to risk-averse investors but introduces centralized vulnerabilities.
👉 Why self-custody matters in crypto
MicroStrategy’s Ambitious Bitcoin Bank Vision
Under Saylor’s leadership, MicroStrategy has amassed 252,000+ BTC (worth ~$17 billion), positioning itself as a Bitcoin-centric financial powerhouse. The company’s long-term strategy includes:
- Developing Bitcoin-based financial products (loans, savings, derivatives).
- Aiming for a $1 trillion valuation tied to Bitcoin’s price growth.
This bold vision reflects Saylor’s belief that institutional adoption and self-custody can coexist.
FAQs: Bitcoin Custody Debates
Q: Why did Vitalik Buterin oppose Saylor’s institutional custody idea?
A: Buterin views reliance on banks as counter to crypto’s decentralized nature, increasing systemic risks.
Q: Can self-custody and institutional custody models work together?
A: Yes. Hybrid approaches allow individual freedom while catering to institutional security needs.
Q: How does MicroStrategy plan to become a Bitcoin bank?
A: By leveraging its massive BTC holdings to offer financial services, bridging traditional and crypto markets.
👉 Exploring Bitcoin investment strategies
Disclaimer: This article reflects the author’s opinions and should not be construed as financial advice. Cryptocurrency investments involve risks; always conduct independent research and comply with local regulations.
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