As institutional interest in Bitcoin soars, the crypto community grapples with fundamental questions about custody and control.
Michael Saylor’s comments on Oct. 21 about Bitcoin custody caused a furor among the crypto community, sparking debates over self-custody and the future of crypto adoption.
Saylor, himself the executive chairman of software company-cum-Bitcoin (BTC) investment vehicle MicroStrategy, faced intense criticism after suggesting that Bitcoin holders should trust their assets to “too big to fail” banks while dismissing self-custody proponents as “paranoid crypto-anarchists.”
As expected, the backlash was swift and severe, with Ethereum co-founder Vitalik Buterin calling the comments “batshit insane,” while several other prominent members of the crypto community — including Zap founder and CEO Jack Mallers and prominent software engineer Jameson Lopp — sharing a similar sentiment.
