Amid mounting criticism, MicroStrategy founder Michael Saylor declared support for Bitcoin’s BTC/USD self-custody, stating that the asset benefits from all types of custody.
What Happened: On Wednesday, Saylor took to X to clear the air on a controversial take that kicked up a storm. He advocated for self-custody for those willing.
“Bitcoin benefits from all forms of investment by all types of entities, and should welcome everyone,” he added.
Why It Matters: Saylor’s clarification was in sharp contrast to his recent statement made in an interview, where he termed the self-custody narrative used by Bitcoin maximalists as a “myth and trope” propagated by “paranoid crypto-anarchists.”
The hot take didn’t go down too well with Bitcoiners and those in support of privacy and decentralization.
Jameson Lopp, a known Bitcoin technologist, dismissed Saylor’s views as contrary to the fundamentals outlined in the whitepaper by Satoshi Nakamoto.
Ethereum ETH/USD creator Vitalik Buterin dubbed the comments as “bat***t insane,” arguing that’s not what cryptocurrency is about.
Saylor’s also drew attention from political figures, including pro-cryptocurrency Senate hopeful John Deaton, who called self-custody an “inalienable” right for Americans.
Price Action: At the time of writing, Bitcoin was exchanging hands at $67,238.74, up 0.19% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Wikimedia
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