On October 22, PANews reported, according to Cointelegraph, that MicroStrategy Executive Chairman Michael Saylor faced criticism from the Bitcoin community for his recent suggestion to entrust Bitcoin custody to 'too big to fail' financial institutions. Previously, Saylor had been a proponent of self-custody for Bitcoin, believing that it could prevent custody institutions from abusing power. However, in an interview on October 21, he stated that Bitcoin holders would not incur losses by entrusting their assets to large banks, criticizing concerns about government confiscation of Bitcoin as 'excessive fear.'

This stance is seen as a significant shift in Saylor's attitude, causing dissatisfaction among several Bitcoin supporters. Sina, the founder of 21st Capital, and Simon Dixon, author of 'Bank to the Future', both questioned the motives behind Saylor's move, believing that he might be pushing for MicroStrategy's transition to a 'Bitcoin bank'. Meanwhile, Synonym CEO John Carvalho stated that Saylor has strayed from his original belief that 'Bitcoin is hope.'

Nevertheless, some believe that Saylor's viewpoint is more geared towards institutional investors, emphasizing that large enterprises and funds need a more secure custody approach.