Michael Saylor, executive chairman of MicroStrategy, is facing backlash for his recent comments endorsing Bitcoin custodianship through large financial institutions rather than advocating for self-custody, which he previously supported. In an interview with financial markets reporter Madison Reidy, Saylor suggested that Bitcoiners have nothing to lose by using established banks, calling fears of government seizure of Bitcoin irrational and labeling concerned individuals as 'paranoid crypto-anarchists.' This statement has contradicted his earlier views that emphasized the importance of self-custody to prevent power imbalances among custodians. Critics, including prominent Bitcoin advocates like Sina and Simon Dixon, argue that Saylor’s stance undermines the core principles of Bitcoin as a decentralized currency and aligns with his company's potential plans to establish a Bitcoin bank. While some supporters argue Saylor's comments were directed towards institutions rather than individuals, the overall response has highlighted a division within the Bitcoin community regarding the trust placed in traditional banking systems.

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