Michael Saylor takes back words after criticism of Vitalik

Michael Saylor talked earlier about "paranoid crypto-anarchists", but after criticism from Vitalik Buterin and others, he revised his position.

Michael Saylor's remarks about Bitcoin self-preservation led to a great outcry in the crypto community, after which Ethereum founder Vitalik Buterin also voiced his criticism. Saylor had labeled Bitcoin self-preservation as too fanatical and cited concerns that the U.S. government would take away this right "paranoid fear" spread by crypto-anarchists.

Saylor argued that large financial institutions, which specialize in managing assets, are better able to store Bitcoin than individual users with hardware wallets. This was a clear rejection of storing your assets yourself.

Buterin, on the other hand, called this vision "completely absurd". According to the Ethereum founder, this would make Saylor explicitly advocate a regulatory approach that protects crypto through institutional control, which he says is at odds with Bitcoin's decentralized ethos.

On Oct. 23, however, Saylor backtracked on his statements. He stated that he supports self-preservation for those willing and able to do so.

Michael Saylor is known as one of Bitcoin's biggest proponents. MicroStrategy, the company he is CEO of, owns more than 250,000 BTC, making it the publicly traded company with the largest Bitcoin stock in the world. In the future, MicroStrategy plans to increasingly position itself as a Bitcoin bank.