MicroStrategy founder Michael Saylor’s comment in an interview that it is better and safer to store BTC in large institutions is receiving backlash from the Bitcoin world. While many Bitcoin maximalists criticized Saylor for this comment, the crypto world has also started to support these people. Vitalik Buterin, one of the founders of Ethereum, was also among the names that joined the criticism.
“Regulators will take control”
Responding to a tweet by Jameson Lopp, one of the security managers of the cryptocurrency storage company Casa, who also criticized Saylor, Buterin made the following statements:
“Frankly, I have tried very hard to spread the idea that everyone should store their own cryptocurrency, the ‘mountain man’ style. But the time for that has passed. Snarks and account abstraction-style technologies have completely changed this world. I can easily say that Saylor’s comments are crazy. He is clearly talking about regulatory bodies taking control to protect cryptocurrencies. There are many examples that this plan has not worked. And I don’t think crypto is that kind of world, crypto is not just that”
What did Saylor say?
Michael Saylor spoke to the New Zealand media yesterday and stated that he would give all his assets to humanity like Satoshi. In an interview with journalist Madison Reidy, Saylor touched on many topics and said that it is better for BTCs to be stored in banks or other large financial institutions.
Journalist Reidy asked Saylor, “Wouldn’t this situation pave the way for the seizure of assets, as has happened in the past? Isn’t that one of the things that the Bitcoin and crypto world don’t want the most?” Saylor continued his insistence and said the following:
“I don’t think so. It is more dangerous to keep your BTCs in institutions run by a few anarchists rather than regulated institutions. In fact, that would actually be the reason for seizure. Working with those who do not recognize the government and tax payments is a reason for seizure. But if you work with institutions like BlackRock, Fidelity, JPMorgan and State Street, things would be different. Lawmakers already keep their money here. “The retirement money is already here… Volatility is reduced, the risk of loss is reduced… Which do you think is better, FTX or Fidelity? Would you put all your family’s money in an unregulated island company?”