Michael Saylor Backtracks on Bitcoin Self-Custody Comments

MicroStrategy founder Michael Saylor has walked back his controversial statement suggesting that big banks should take custody of Bitcoin, following significant backlash from the crypto community. “I support self-custody for those willing and able, the right to self-custody for all, and freedom to choose the form of custody and custodian for individuals and institutions globally,” Saylor clarified in an Oct. 23 post on X. Saylor faced criticism from prominent figures, including Ethereum co-founder Vitalik Buterin, after his recent interview, where he referred to “paranoid crypto-anarchists” and suggested that Bitcoin holders should entrust their assets to “too big to fail” banks