{"id":12847,"date":"2023-08-13T13:13:52","date_gmt":"2023-08-13T13:13:52","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12847"},"modified":"2023-08-13T13:13:53","modified_gmt":"2023-08-13T13:13:53","slug":"bitcoin-bought-by-corporate-giants-should-not-be-feared-michael-saylor","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12847","title":{"rendered":"Bitcoin bought by corporate giants should not be feared \u2014 Michael Saylor"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>During a recent podcast interview, MicroStrategy\u2019s Michael Saylor expressed the opinion that large corporations purchasing and holding Bitcoin (BTC) in their custody should not be a cause for concern.<\/p>\n<p>While speaking to Natalie Brunell on the <em>Coin Stories<\/em> podcast, released on Aug. 7, Saylor emphasized the inevitability of third-party and corporate participation growing in the Bitcoin space.\u00a0<\/p>\n<p>However, he suggested that while Bitcoin enthusiasts may desire total self-control, or sovereignty, over their Bitcoin, it might not be the only answer, as people will be using Bitcoin for diverse purposes.<\/p>\n<p>\u201cWe need to be prepared for Bitcoin to infuse everything,\u201d Saylor stated, explaining that as Bitcoin becomes more integrated into society, it will have many use cases, and there will not be a one-size-fits-all model.<\/p>\n<p>\u201cThere 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.\u201d<em>Saylor\u00a0<\/em><em>speaking to Coin Stories host Brunell. Source: Coin Stories<\/em><\/p>\n<p>Saylor outlined three main reasons underpinning the need for custodians: technical, political and natural.<\/p>\n<p>From a political standpoint, relying on a third party might be the only course of action.<\/p>\n<p>\u201cThe mayor of New York is still the mayor of New York. Unless you get rid of New York City, California or Iceland, the country, political reasons will mean the need for custodians.\u201d<\/p>\n<p><strong><em>Related:\u00a0Saylor\u2019s MicroStrategy plans $750M stock sale, possibly buying more Bitcoin<\/em><\/strong><\/p>\n<p>On the technical side, there will be people that will want to transact in crypto with their mobile phones, so trusting layer-3 third parties, such as Bank of America and Apple, will be unavoidable, Saylor said.<\/p>\n<p>\u201cBitcoin is going to be a base layer. There is going to be layer 2\u2019s like lightning to make things fast. Then there is going to be layer 3\u2019s like Bank of America and Apple. Custodial layer 3 is going to exist to provide functionality.\u201d<em>Saylor speaking on the Coin Stories podcast. Source: Coin Stories<\/em><\/p>\n<p>As for natural reasons, Saylor suggested the possibility that it is safer for certain people to entrust their assets to others.<\/p>\n<p>He gave the example of an 85-year-old grappling with Alzheimer\u2019s or the desire to secure holdings for a yet-to-be-born grandchild.<\/p>\n<p>\u201cI didn\u2019t complain that my mother and father had the car keys when I was twelve years old, and I didn\u2019t get the car key,\u201d Saylor stated.<\/p>\n<p>Saylor stated that the optimal blend of Bitcoin integrations will be determined by the market.\u00a0<\/p>\n<p>\u201cWe shouldn\u2019t be afraid of all the different ways people integrate, wrap, embed or execute with Bitcoin, there is no one right answer; the marketplace will determine the right mix of integrations of Bitcoin.\u201c<\/p>\n<p><em><strong>Magazine: Why Coin Stories\u2019 Natalie Brunell doesn\u2019t want a Bitcoin ATH anytime soon: Hall of Flame<\/strong><\/em><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-centralized-corporate-feared-michael-saylor\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During a recent podcast interview, MicroStrategy\u2019s Michael Saylor expressed the opinion that large corporations purchasing and holding Bitcoin (BTC) in their custody should not be a cause for concern. While speaking to Natalie Brunell on the Coin Stories podcast, released on Aug. 7, Saylor emphasized the inevitability of third-party and corporate participation growing in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12847"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12847\/revisions"}],"predecessor-version":[{"id":12849,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12847\/revisions\/12849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12848"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}