MicroStrategy founder Michael Saylor has retracted his comments that big banks should control Bitcoin after intense backlash from the crypto community.
“I support voluntary custody for those who are willing and able, the right to voluntary custody for all, and the freedom of individuals and institutions around the world to choose their custody and guardianship.” said Saylor. declared In a post by X on October 23rd.
Saylor has faced increasing backlash from the crypto community, including Ethereum co-founder Vitalik Buterin, after he slammed “paranoid crypto anarchists” in a recent interview.
At the same time, he suggested that Bitcoin holders should park their assets in banks that are “designed to be custodians of financial assets” and are “too big to fail.”
“Bitcoin benefits from all forms of investment by all types of entities, and everyone should be welcome,” Saylor added as part of an apparent redemption post to X.
sauce: michael saylor
In response, VanEck's advisor Gabor Grbacs said this was not a controversial position and was “just common sense.”
Meanwhile, Dash marketing chief Joel Valenzuela said it was a “surrender,” adding that Saylor had shown his “true colors.”
The October 21 interview sparked a debate about self-custody rights, but it also infuriated Bitcoiners like Samson Mo. ridiculed The label “crypto-anarchist.”
October 23rd, Max Kaiser commented “Recent comments attacking self-custody are indicative of a regressive trend in favor of traditional centralized banking fraudsters that Bitcoin has modified.”
Backlash from industry influencers. sauce: viscript
Related: Saylor's comments about major banks' storage of BTC are “absolutely insane” — Buterin
On October 23rd, Pascal Gauthier, CEO of hardware wallet maker Ledger, told Cointelegraph, “There is no such thing as a cryptocurrency without self-custody, so all coins are sold to ETFs and exchanges.'' “It's a little debatable whether it will be sent or not.” Connected his product to a blockchain event in Dubai.
However, this method of self-storage is not without risks. The company was hacked in 2020, resulting in a massive data breach that saw hundreds of thousands of Ledger customers' personal information sold on the dark web, causing a stir. Phishing attacks are still ongoing.
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