Vitalik Buterin Slams Saylor’s Bitcoin Custody Proposal as ‘Insane

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MicroStrategy’s Michael Saylor is under fire for suggesting Bitcoin custody should be entrusted to big banks. Vitalik Buterin, co-founder of Ethereum, criticized Saylor’s stance in an X post, calling his comments “batshit insane.” Vitalik highlighted that Saylor’s approach, which advocates regulatory capture to protect crypto by involving entities like BlackRock and Fidelity, contradicts the decentralized ethos of cryptocurrencies. He further added, “There’s plenty of precedent for how this strategy can fail,” stressing that this isn’t what crypto is about and stands against its fundamental principles.