A controversial take on Bitcoin (CRYPTO: BTC) self-custody by MicroStrategy CEO Michael Saylor has riled up privacy advocates, prompting disagreements and counter-arguments.
What happened: During a recent interview, Saylor called the narrative a “myth and trope” propagated by “paranoid crypto-anarchists.”
Taking a contrarian position, Saylor said that there was a higher risk of seizure if Bitcoin was held by unregulated entities that don’t have trust in the government and traditional economy.
Jameson Lopp, a popular technologist and Bitcoin advocate, took strong exception to Saylor’s stance. Citing the example of gold, Lopp stated that most seizures in history happened at financial institutions that held gold on behalf of clients, as opposed to those held in self-custody.
Full story available on Benzinga.com