Saylor is playing a different game. The bitcoin-fiat game. And in the bitcoin-fiat game he is king.
He is not a cypherpunk, or in need of property rights, and he doesn’t need self-custody himself for his game.
But he needs the network (paranoid crypto anarchists) to self-custody, otherwise his game is over.
If not NgU, no game is possible.
And guess what, without the possibility to self-custody, custodians (not even the ETFs, but mainly Coinbase here) would be incentivized to play the same games as with gold (i.e. fractionally reserve).
Saylor sees a future where bitcoin is deeply entrenched in the fiat system, and everyone is happy lending and hypothecating their coins.
Well, let us see. Bitcoiners don’t trust, by definition. An executive order is plausible, and we need to be prepared for anyone trying to seize our wealth (by tax or confiscation), because that is ultimately keeping the old guard alive.
#bitcoin
