Michael Saylor, the CEO of MicroStrategy, provided insight into the expanding trend of big businesses acquiring and storing Bitcoin as part of their asset portfolios in a recent podcast interview. Saylor discussed custodianship’s advantages in Bitcoin and reassured against fearing corporate engagement.
Saylor, on Coin Stories podcast with Brunell, highlighted corporations’ and third parties’ inevitable role in Bitcoin. He suggested diverse use cases might challenge the exclusive pursuit of total Bitcoin autonomy. Different strategies could emerge.
We must be ready for Bitcoin to permeate everything, said Saylor. According to him, when Bitcoin integrates more fully into society, it will perform a number of functions that call for a range of custodial solutions. Technical, political, and natural factors are the three main causes for the requirement for custodianship, according to Saylor.
“There are different types of wrappers. Some people will always be self-custody, some will be multisig, some will need a layer-3 custodian. There will be a need for political or utility or functionality purposes.”
Saylor Insights: Custodianship and Bitcoin Integration Amidst Growing Corporate Adoption
Saylor made the political case that custodians can be required for political reasons. He referenced city and nation governance, suggesting custodial needs for governmental Bitcoin transactions. National bodies may require assistance.
Saylor also emphasized the practical and natural benefits of committing assets to third people, such as safety and ease. He emphasized the point that certain circumstances can call for a custodial approach by using the comparison of a parent keeping the car keys for a young adolescent.
Saylor addressed concerns about individual autonomy and decentralization by indicating that the best Bitcoin integration mix will be determined by the market. He emphasized that different criteria and use cases will decide the appropriate mix of self-custody, third-party custody, and other custodial arrangements.
Saylor’s viewpoint is relevant at this moment, when many well-known companies are making their Bitcoin holdings public knowledge. Institutional investors seek secure ways to handle digital assets, amplifying custodianship’s importance. Safety and legality matter. He underscores adaptable custodianship to accommodate evolving Bitcoin ecosystem for individuals, businesses, and governments. Flexibility is paramount.