However, he suggested that while Bitcoin enthusiasts may want total self-control, or sovereignty, over their Bitcoin, it might not be the only answer, as people will be using Bitcoin for various purposes

MicroStrategy’s Michael Saylor in a recent podcast interview expressed the view that big corporations buying and holding Bitcoin in their custody should not be a cause for concern.

While speaking to Natalie Brunell on the Coin Stories podcast, released on August 7, the MicroStrategy co-founder stressed the inevitability of third-party and corporate involvement growing in the Bitcoin sector.

Nonetheless, he proposed that while Bitcoin enthusiasts may want total self-control, or sovereignty, over their Bitcoin, it might not be the only answer, as people will be using Bitcoin for various purposes.

We need to be prepared for Bitcoin to infuse everything, he added, elaborating that as Bitcoin becomes more integrated into society, it will have several use cases, and there will not be a one-size-fits-all model.

There are various types of wrappers. Some people will always be self-custody, some will be multisig, some will require a layer-3 custodian. There will be a requirement for political or utility or functionality purposes, Saylor added.

He outlined three major reasons supporting the requirement for custodians: technical, political and natural.

From a political view, relying on a third party might be the only course of action.

On the technical side, there will be people that will want to transact in crypto with their mobile phones, so trusting layer-3 third parties, like BoA and Apple, will be inevitable, he added.

Saylor added that bitcoin is going to be a base layer. There is going to be layer 2’s like lightning to make things swift. Then there is going to be layer 3’s such as BoA and Apple. Custodial layer 3 is going to exist to provide functionality.