Michael Saylor opined in an interview: when bitcoin is used at scale by corporations, governments, nonprofits, and individual users, all banks will offer their custodial services to them.
This will avoid the risks that arise from storing cryptocurrencies on their own.
MicroStrategy head believes that some groups of people are incapable of managing cryptocurrencies wisely.
Saylor cited bitcoin inherited children and elderly people with dementia as examples.
In those cases, a trust company should be brought in to manage BTC on behalf of those people, Saylor believes.
“New York City authorities will not allow the mayor to walk around with bitcoins in his custody, and it’s not exactly practical for the U.S. Department of Defense to have all the bitcoins in one general’s custody.
Any large institution will need a reliable infrastructure for storing cryptoassets.
I think bitcoin will inevitably infiltrate all traditional organizations for a variety of reasons – economic, physical or political,” says the businessman.
Michael Saylor recently said that owning bitcoins has become a vital necessity for everyone in the face of rising inflation and distrust of traditional banks.