In a recent podcast interview, Michael Saylor, the CEO of MicroStrategy, expressed his belief that corporations buying and holding Bitcoin should not be feared. He outlined three main reasons driving the need for custodians in the Bitcoin space: technical, political, and natural.
Saylor emphasized that as Bitcoin becomes more integrated into society, it will have diverse use cases, and there will not be a one-size-fits-all model. He stated that different types of custodians will be needed, including self-custody, multisig, and layer-3 custodians for political, utility, or functionality purposes.
From a political standpoint, relying on third-party custodians may be necessary due to political reasons. Saylor also mentioned the technical aspect, where layer-3 third parties like Bank of America and Apple will be trusted for transactions on mobile phones. Finally, he highlighted the natural reasons for custodianship, such as the need for safety and security for certain individuals.
Saylor concluded by stating that the optimal blend of Bitcoin integrations will be determined by the market, and there is no one right answer. The marketplace will determine the right mix of integrations for Bitcoin.
Summary:
– Michael Saylor believes corporations buying and holding Bitcoin should not be feared.
– Three main reasons driving the need for custodians in the Bitcoin space: technical, political, and natural.
– Different types of custodians will be needed for diverse purposes.
– Political reasons may require relying on third-party custodians.
– Layer-3 third parties like Bank of America and Apple will be trusted for transactions on mobile phones.
– Custodianship may be necessary for safety and security reasons.
– The market will determine the optimal blend of Bitcoin integrations.