Extracts of this interview have been separately published on X by other crypto enthusiasts. One of the statements that caught the attention of the Bitcoin community was the statement made by MicroStrategy’s Saylor about those who prefer self-custody to hedge funds like BlackRock (NYSE:BLK).
Madison Reidy’s question about this was if there are any risks posed on those people who prefer to hold Bitcoin with custodians and whether it increases the risks of having their Bitcoin confiscated and seized by the U.S. government in the future. Here, she made a historical reference to the Great Depression, when the government confiscated gold from wealthy American citizens.
In 1933, during the Depression, President Roosevelt announced that gold holders should turn their gold bullion and coins in and get $20.67 per ounce in return. Back then, the U.S. dollar was on the gold standard, and after collecting the gold, Roosevelt raised the price per ounce to $35. The gold inflow from holders and the printing of dollars that followed was one of the radical measures that allowed the U.S. to steer out of the Depression.
Saylor claimed that only “paranoid Bitcoin anarchists” fear that Bitcoin can be seized from them, and he claimed that gold was not seized in 1933 but turned in voluntarily. Since the U.S. is not on the Bitcoin standard, he said, there is nothing to be afraid of.
The community was stunned by these words, reacting strongly in the comments.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
