In a podcast interview, MicroStrategy’s Michael Saylor said the acquisition and custody of Bitcoin by large corporations should not raise alarms. Speaking on the Coin Stories podcast with Natalie Brunell, Saylor emphasized the inevitable expansion of third-party and corporate involvement in the Bitcoin realm, media reports said.
While acknowledging the desire of Bitcoin enthusiasts for complete autonomy over their holdings, Saylor suggested that this might not be the sole solution. He stressed the evolving multifaceted use of Bitcoin, stating, “We need to be prepared for Bitcoin to permeate all aspects.”
As Bitcoin becomes more integrated into society, its diverse use cases will require varying approaches, rather than a one-size-fits-all model.
Saylor outlined three key reasons driving the need for custodians: technical, political, and natural factors. From a political perspective, he noted that certain situations might necessitate reliance on third parties due to their irreplaceable roles in governance and administration.
On the technical side, Saylor acknowledged that people who transact in cryptocurrency using mobile devices would inevitably need to trust layer-3 third-party entities such as Bank of America and Apple.
He envisioned Bitcoin as a foundational layer with subsequent layers like Lightning for faster transactions, and even layer 3’s like Bank of America and Apple for added functionality. Saylor emphasized that custodial layer 3 services would offer essential functionalities.
Regarding natural reasons, Saylor pointed out scenarios where it might be safer or more practical for individuals to entrust their assets to others. He cited instances like an elderly person dealing with Alzheimer’s or safeguarding assets for a future grandchild.
Saylor concluded that the optimal approach to integrating Bitcoin would be determined by the market. He urged against fearing the various ways Bitcoin can be integrated, integrated, or executed, emphasizing that the right mix of Bitcoin integrations would naturally emerge through market dynamics.
