When you hold Bitcoin, you’re holding something unlike anything else. It isn’t a bank account balance. It isn’t a stock certificate. It’s a digital bearer asset. It lives everywhere and nowhere at the same time. Trey Sellers, Frank Hinek, and John Arnold broke down the ins and outs of multi-signature custody at CTS25. Watch their full panel below. Read our full Bitcoin Custody in 2025 White Paper:

Mockingbird Research - Bitcoin Custody in 2025

“The best deterrent to confiscation is distribution.” Just as the Second Amendment empowers citizens by distributing arms, Bitcoin custody is strongest when keys are widely held. The more individuals and institutions that take real responsibility for their keys, the harder it becomes for any government or central authority to coerce control. @preston, @Parker Lewis, and @Bitstein the Tradeoffs of Control at CTS25 and how the tail risks of bitcoin are impacted by the strategic choices of custody deployed and who ultimate holds the key to sign transactions.