Bitcoin bull Michael Saylor’s recent stance on Bitcoin custodianship has sparked debate within the crypto community. Saylor, who once championed self-custody, now recommends utilizing ‘too big to fail’ banks for custodial services. This shift in perspective has drawn criticism from Bitcoiners who fear the centralization of power in financial institutions.
Saylor’s suggestion to trust institutions over self-custody has raised concerns about the potential risks of relinquishing control over one’s assets. Critics argue that this move contradicts the core principles of decentralization and individual control that Bitcoin was built upon.
While some believe that institutions may require custodial services due to their size and structure, others argue that the essence of Bitcoin lies in empowering individuals with financial sovereignty. The controversy surrounding Saylor’s comments reflects larger debates within the crypto space regarding trust, security, and the future of decentralized finance.
