In a recent podcast interview, Michael Saylor of MicroStrategy shared his perspective that the acquisition and retention of Bitcoin (BTC) by major corporations, resulting in over $29,384 in holdings, shouldn’t elicit apprehension.
During his conversation with Natalie Brunell on the Coin Stories podcast, which was released on August 7th, Saylor underscored the inevitable rise of involvement from external entities and corporate players within the Bitcoin realm.
Nonetheless, he proposed that while enthusiasts of Bitcoin might aspire to possess complete autonomy or sovereignty over their holdings, this might not be the sole solution, given the diverse range of applications that people will find for Bitcoin.
Saylor expressed, “We should brace ourselves for the pervasive influence of Bitcoin,” as he expounded on how Bitcoin’s integration into various facets of society will lead to its multifaceted utility, eschewing a one-size-fits-all approach.
Saylor elucidated the essential drivers advocating for custodial services, categorizing them into three key dimensions: technical, political, and natural.
From a political vantage point, relying on external entities might emerge as the sole viable option. He remarked, “As long as New York City, California, or Iceland continue to exist politically, the requirement for custodians remains intact.”
On the technological front, the demand for mobile-based crypto transactions will inevitably lead to the reliance on third-party layer-3 entities like Bank of America and Apple, given the inevitability of this development, as outlined by Saylor.
Regarding natural factors, Saylor proposed the concept that, in certain instances, it might be more secure for individuals to delegate their assets to others.
He illustrated this with the scenario of an 85-year-old coping with Alzheimer’s or the intention to safeguard resources for a future grandchild who hasn’t yet been born.
“When I was twelve years old, I didn’t protest that my parents held the car keys and I didn’t,” remarked Saylor, highlighting a similar principle.
Saylor conveyed that the ideal fusion of Bitcoin integrations will ultimately be shaped by the dynamics of the market.