Bitcoin bull Michael Saylor previously said without Bitcoin self-custody, custodians would accumulate too much power which they could then abuse.
MicroStrategy’s executive chairman, Michael Saylor, has been slammed over his latest comments recommending Bitcoin custodianship through “too big to fail” financial institutions rather than using self-custody — something he once championed.
Saylor controversially suggested Bitcoiners have nothing to lose by transferring their Bitcoin (BTC) to institutions in an Oct. 21 interview with financial markets reporter Madison Reidy.
Saylor is seen as a champion for Bitcoin, and his comment appears to be a stark contrast to his previous support for crypto self-custody.