## Michael Saylor Walks Back Criticism of Bitcoin Self-Custody, Embracing ‘All Forms of Investment’
MicroStrategy CEO Michael Saylor has made a U-turn on his recent criticism of Bitcoin self-custody, declaring his support for the practice while acknowledging the value of other custodianship options. This shift comes after his controversial comments sparked backlash within the Bitcoin community.
On Wednesday, Saylor took to X (formerly Twitter) to clarify his stance, emphasizing that Bitcoin benefits from all types of investment, regardless of the method of custody.
“Bitcoin benefits from all forms of investment by all types of entities, and should welcome everyone,” he stated, adding, “I support self-custody for those willing & able, the right to self-custody for all, and freedom to choose the form of custody & custodian for individuals & institutions globally.”
Saylor’s original comments, made in an interview, labeled the self-custody narrative as a “myth and trope” propagated by “paranoid crypto-anarchists,” drawing strong criticism from Bitcoin proponents who value the decentralized nature of the cryptocurrency. This stance was particularly jarring, as Saylor has been a vocal advocate for Bitcoin and a major holder of the cryptocurrency through MicroStrategy.
Prominent Bitcoin technologist Jameson Lopp dismissed Saylor’s initial views as contradicting the core principles outlined in the Bitcoin whitepaper, while Ethereum founder Vitalik Buterin labelled the comments as “bat***t insane,” arguing that they fundamentally misrepresented the ethos of cryptocurrencies.
Saylor’s change of heart has also garnered attention from political figures, with pro-cryptocurrency Senate hopeful John Deaton asserting that self-custody is an “inalienable” right for Americans.
This back and forth highlights the ongoing debate surrounding the importance of self-custody within the cryptocurrency world. While some advocate for its crucial role in fostering financial freedom and independence, others argue that institutional and centralized custodianship options provide essential security and accessibility for a wider range of investors.
Saylor’s latest statement suggests a shift in his perspective, recognizing the value of self-custody as a key aspect of the Bitcoin ecosystem. It remains to be seen how this change in stance will influence the broader crypto community and the future of custody options within the Bitcoin space.