Vitalik Buterin, co-founder of Ethereum 
$2,421, responded to MicroStrategy President Michael Saylor’s remarks regarding Bitcoin 
$77,196 custody. Saylor argued that large banks should take on the responsibility of Bitcoin storage. However, this suggestion has sparked significant debate within the Bitcoin community.
Buterin’s Response
Buterin harshly criticized Saylor’s approach, asserting that relying on major financial institutions contradicts Bitcoin’s decentralized essence. He believes such a step would undermine the fundamental principles of cryptocurrencies.
Saylor has previously encouraged Bitcoin users to self-custody their assets but has recently shifted towards advocating for large institutions to assume this responsibility. This shift has drawn criticism, particularly from those who value Bitcoin’s decentralized nature, with concerns that Saylor’s approach would reinforce centralized control.
Further Critiques
Jameson Lopp, co-founder of Casa, is among those who disagree with Saylor’s proposal. Lopp noted that allowing large organizations to control Bitcoin could increase risks and pose a threat to the network’s health. He argues that Bitcoin users should engage in self-custody to maintain governance over the network.
Similar criticisms came from figures like Simon Dixon and John Carvalho, who warned that Saylor’s bank-centered approach could harm Bitcoin’s potential to function as a decentralized financial system.
The Bitcoin community is apprehensive about Saylor’s proposal for institutional custody of Bitcoin, viewing it as a threat to its decentralized structure. Nevertheless, Saylor remains optimistic about Bitcoin’s future, predicting it could reach $13 million by 2045.
