Saylor appears to be “explicitly arguing for a regulatory capture approach to protecting crypto,” which was not what it is about, said Buterin.
MicroStrategy founder Michael Saylor’s suggestion that crypto users should use big banks to custody Bitcoin is “batshit insane,” according to Ethereum co-founder Vitalik Buterin, adding to a growing backlash from the crypto community.
“I’ll happily say that I think Saylor’s comments are batshit insane,” commented Buterin in response to an Oct. 22 post on X from Bitcoin custody firm Casa’s chief security officer and cypherpunk Jameson Lopp, who was extolling the virtues of self-custody.
It’s the latest criticism aimed at MicroStrategy’s Saylor after he suggested on Oct. 21 that Bitcoin (BTC) holders should rely on “too big to fail” banks that are “engineered to be custodians of financial assets” — an apparent U-turn on his previous comments about self-custody.
