Microstrategy co-founder Michael Saylor blasted the original bitcoin community stating that crypto-anarchists were paranoid about possible bitcoin seizure events involving the large companies that currently provide crypto custody. Saylor said that they were the ones who could incentivize a seizure measure due to their lack of compliance with government rules while exercising self-custody.
Michael Saylor Gets Blasted for His Startling Remarks on Paranois Crypto-Anarchists and a Possible Total Seizure Move on Bitcoin
Michael Saylor, co-founder and Executive Chairman of Microstrategy, stirred the cryptocurrency community after taking a jab at who he called âparanoid crypto-anarchistsâ over the relevance of self-custody in a total bitcoin seizure event.
At a recent interview, Saylor was asked about the risk of holding large amounts of bitcoin on centralized platforms and how this might incentivize and facilitate a bitcoin seizure scenario. Saylor rejected these claims, claiming that crypto-anarchists were the ones that could originate such an event due to their disregard for following proper compliance rules.
Saylor declared:
I think that when the bitcoin is held by a bunch of crypto-anarchists who arenât regulated entities who donât acknowledge government or donât acknowledge taxes or donât acknowledge reporting requirements that increases the risk of seizure.
Saylor reinforced that when custody is provided by Blackrock, Fidelity, or JPMorgan, which he called regulated public entities, this seizure risk is lower given that lawmakers and politicians are also invested in these platforms.
When asked about the chance of the government issuing an order to seize bitcoin like it did with gold in 1933, Saylor also belittled this possibility. He declared:
People say that but mostly itâs mostly itâs paranoid crypto anarchists that say that okay because itâs a myth and a trope that goes on over and over again.
These statements startled the crypto community, which blasted Saylorâs train of thought. Known bitcoin permabull Max Keiser took to social media to criticize these
allegations, assessing that Saylor was âthe type of guy who thinks the stripper really likes him (or, he has Stockholm Syndrome).â
Podcaster Vlad Costea also stated that Sayor rendered the crypto community that boosted his status irrelevant, criticizing his former allegiance to the paranoid people he now vilified. âIt doesnât matter what he said 3-4 years ago, he was only pulling strings to get bigger than any other voice in bitcoin,â he detailed.
Ray Youssef, CEO and Chief Advocate Of Noones, an Africa-focused P2P market, linked this to the current state of bitcoin markets. âWe were all warned but weâre too smug and busy pooping on Roger ver to notice that bitcoin got p0wn3ed,â he concluded.
Writersâ take: While the change of heart in Saylorâs considerations about OG bitcoins and the importance of self-custody can be surprising for some, the reality is that his vision is only logical. Saylor is an investor first, and investors are forced to think inside the box, entrapped in a compliance and regulations ecosystem that institutions must follow, so his latest statements are part of his programming as an entrepreneur.
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