In support of personal control over bitcoin assets, Michael Saylor advocates for self-custody, amidst ongoing debate and controversy.

Michael Saylor, the CEO of MicroStrategy, has made waves in the crypto community with his latest proposal to transform the company into a Bitcoin bank. This move, however, has attracted criticism from Ethereum co-founder Vitalik Buterin, who labeled it as "insane."

Saylor's vision for MicroStrategy extends beyond just a Bitcoin bank. He envisions a broad range of Bitcoin-based financial products, aiming to capitalise on the growing popularity of cryptocurrencies. However, his proposal does not seem to align with the decentralised principles of cryptocurrency, a point of contention raised by Buterin.

In contrast to his recent proposal, Saylor's earlier suggestion favoured institutional custody for Bitcoin holders, a stance that has also sparked debate. He has, however, expressed support for self-custody for Bitcoin holders, stating, "I support self-custody for those willing & able, the right to self-custody for all, and freedom to choose the form of custody & custodian for individuals & institutions globally."

MicroStrategy's proposed Bitcoin bank does not appear to be a form of self-custody for Bitcoin holders. Instead, it aims to reduce the risk of regulatory asset seizure, a concern that has been a hurdle for many institutional investors.

Saylor's goal for MicroStrategy is ambitious. He aims to reach a market valuation of up to $1 trillion as Bitcoin's value increases. This would make MicroStrategy one of the largest financial institutions in the world, a testament to Saylor's confidence in Bitcoin's potential.

It's important to note that the information provided is the author's opinion only and should not be considered as offering trading or investing recommendations. Investors, traders, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

The cryptocurrency market, including Bitcoin, suffers from high volatility and occasional arbitrary movements. This volatility, coupled with the regulatory uncertainty, makes investing in cryptocurrencies a risky proposition.

The institution that has acquired more than 252,000 Bitcoin, reaching a total volume of around 17 billion US dollars, is Grayscale Investments, not MicroStrategy.

In conclusion, Saylor's proposal for MicroStrategy to become a Bitcoin bank has sparked controversy within the crypto community. While some see it as a step towards mainstream adoption, others view it as a departure from the decentralised principles of cryptocurrency. Regardless, it's a move that underscores the growing importance of Bitcoin in the financial world.