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Replying to Avatar Phil

Another thing about Saylor’s recent custodian takes. Many have pointed out that of course he’s pro-custodian, as 99% of his net worth is trusted with Coinbase.

But the other thing is that in his mind, there’s no other option for his bitcoin succession plans. He’s likely to leave the bitcoin in some type of perpetual education trust, which by definition will have to have some kind of corporate trustee. Likely not Coinbase, probably someone like BNY Mellon.

For what he’s trying to achieve with his Bitcoin over a very long time period, custodians will absolutely be required.

I’m a “crazy crypto anarchistic” and I’m raising my little future bitcoin owners the same way. But Saylor’s in a different position with different goals.

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Bertha 1y ago

Sometimes I wonder how long Coinbase can last, especially if/when altcoin gambling distractions are more regulated.

BNYM, JPMC etc will be gifted the Coinbase client base and custodial stack. If I indulge the conspiracy theorist - maybe that was the plan all along.

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Phil 1y ago

Agreed. And in my opinion, separating “casino” and “trusted custodian” is the right answer

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