{"id":18048,"date":"2024-10-24T13:24:29","date_gmt":"2024-10-24T10:24:29","guid":{"rendered":"https:\/\/forklog.com\/en\/michael-saylor-advocates-for-bitcoin-self-custody-amid-criticism\/"},"modified":"2024-10-24T13:24:29","modified_gmt":"2024-10-24T10:24:29","slug":"michael-saylor-advocates-for-bitcoin-self-custody-amid-criticism","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/michael-saylor-advocates-for-bitcoin-self-custody-amid-criticism\/","title":{"rendered":"Michael Saylor Advocates for Bitcoin Self-Custody Amid Criticism"},"content":{"rendered":"<p>Michael Saylor, the founder of MicroStrategy, has expressed support for non-custodial storage of cryptocurrencies. This is presumably in response to criticism from the community following a recent interview.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">I support self-custody for those willing &#038; able, the right to self-custody for all, and freedom to choose the form of custody &#038; custodian for individuals &#038; institutions globally. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> benefits from all forms of investment by all types of entities, and should welcome everyone.<\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1849132234692833436?ref_src=twsrc%5Etfw\">October 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>During a podcast with Madison Raidy, the entrepreneur recommended storing bitcoins in major banks. He described the possibility of state-sanctioned confiscation of digital gold from individuals as a &#8220;myth&#8221; and characterized those who disagree as &#8220;paranoid crypto-anarchists and scammers driven by greed.&#8221; Saylor urged trust in governments and credit institutions.<\/p>\n<p>This discussion arose in the context of institutional adoption of cryptocurrency.<\/p>\n<p>Saylor&#8217;s recommendations, which contradicted his previous statements, sparked a negative reaction within the community.<\/p>\n<p>Chris Dixon, founder of the investment platform Bnk To The Future, linked the &#8220;shift&#8221; in his opinion to plans to transform MicroStrategy into a bitcoin bank with a capitalization of $1 trillion.<\/p>\n<p>Ethereum co-founder Vitalik Buterin called Saylor&#8217;s statements &#8220;utter madness&#8221; and support for a regulatory &#8220;takeover&#8221; of the crypto industry.<\/p>\n<p>Television host and crypto investor Max Keiser also commented on the statements of the MicroStrategy founder:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The recent comments attacking self-custody demonstrate a regressive tendency to favor the legacy, centralized banking crooks that Bitcoin fixes.&#8221;<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">This Saylor post from March, 2022 show\u2019s an understanding of Bitcoin\u2019s value proposition. <\/p>\n<p>The recent comments attacking self-custody demonstrate a regressive tendency to favor the legacy, centralized banking crooks that Bitcoin fixes. <a href=\"https:\/\/t.co\/nWHvk4AyP6\">https:\/\/t.co\/nWHvk4AyP6<\/a> <a href=\"https:\/\/t.co\/xrsoPB1arM\">pic.twitter.com\/xrsoPB1arM<\/a><\/p>\n<p>\u2014 Max Keiser (@maxkeiser) <a href=\"https:\/\/twitter.com\/maxkeiser\/status\/1849125157887263128?ref_src=twsrc%5Etfw\">October 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I support self-custody for those willing and able, the right to choose custodians and services, both for individuals and institutions worldwide. Bitcoin benefits from all forms of investment and welcomes everyone,&#8221; Saylor clarified his position in a tweet.<\/p>\n<\/blockquote>\n<p>Back in the podcast, the former CEO of MicroStrategy reiterated his forecast that the price of the first cryptocurrency could rise to $13 million by 2045.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Saylor, the founder of MicroStrategy, has expressed support for non-custodial storage of cryptocurrencies. This is presumably in response to criticism from the community following a recent interview. I support self-custody for those willing &#038; able, the right to self-custody for all, and freedom to choose the form of custody &#038; custodian for individuals &#038; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1208,1207,1138],"class_list":["post-18048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-michael-saylor","tag-microstrategy","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18048"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18047"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}