Man who's business is effectively being a bitcoin custodian says using a custodian is good
I think folks are overreacting
If I had 99% of my net worth in coinbase, I too would be calling you all paranoid crypto anarchists.
Discussion
we're also just having fun
Hear me out: a wallpaper that loooks like a repeating QR code but embedded within it are ecash tokens.
It is the shift in messaging that’s concerning.
He is the most mainstream name in bitcoin. And now he’s talking about getting yield on bitcoin as being the primary path while speaking down to the self-custodian class.
Even if he is doing it for his fiduciary duty, it is a stark difference from where he started AND because so many bitcoin influencers bought into his schtick, there is damage to be done to the trust network in the event the MSTR experiment goes the way of FTX, Celsius, BlockFi.
Overreaction is the right course here IMO.
🚩🚩Throw up the red flags. 🚩🚩