Michael Saylor, a known Bitcoin advocate, is at the center of controversy following remarks favoring Bitcoin custody in major financial institutions.

Saylor's Shift in Stance

In a recent interview, Michael Saylor suggested that Bitcoin holders should consider transferring their assets to large banks, such as 'too big to fail' institutions. This position contrasts with his previous advocacy for Bitcoin self-custody as a defense against potential state seizures.

Public Reaction

Saylor's statements were met with a mixed reaction. Many Bitcoiners, including notable author and expert Simon Dixon, expressed concern that such comments might undermine confidence in self-custody. John Carvalho also questioned how such a shift aligns with the idea of Bitcoin as 'hope for everyone.'

Potential Motivations

Some analysts suggest that Michael Saylor's statements may be based on strategic interests for MicroStrategy. The company is currently the largest corporate holder of Bitcoin. Simon Dixon believes that moving away from promoting self-custody could lay the groundwork for the company to become a Bitcoin bank and offer collateralized loans.

Michael Saylor’s comments have sparked a wave of discussions in the crypto community, raising important questions about the future security and reliability of Bitcoin custody.