Blockchain Co-Founder Ethereum Vitalik Buterin subjected to criticized the position of MicroStrategy co-founder Michael Saylor on storing bitcoins in banks.
It should be noted that Michael Saylor previously gave an interview on the Markets with Madison podcast, where he called for banking institutions to be trusted with storing the first cryptocurrency.
In response, he faced criticism from Bitcoin supporters. I disagree with his position and Vitalik Buterin . According to him, Michael Saylor's position that users who store bitcoins on their own are paranoid is complete madness.
Vitalik Buterin noted that he himself had previously promoted a similar approach, but now considers it unsuitable for use in the crypto industry. According to Buterin, Michael Saylor sees the spread of cryptocurrencies through their adoption by large institutional players such as BlackRock, since they are financially supported by the authorities.
However, this approach is fraught with increased centralization, which fundamentally contradicts the decentralized nature of Bitcoin and its network, Buterin is sure.
Perhaps Australian businessman Craig Wright was right when he said that Michael Saylor had betrayed the spirit and philosophy of Bitcoin when he began promoting the idea of creating Bitcoin -a bank? Although who would say.
