迈克尔·塞勒（Michael Saylor）的比特币托管评论暴露了社区中日益加深的意识形态分歧

Saylor 本人是软件公司兼比特币 BTC 价值 70,489 美元的投资工具 MicroStrategy 的执行主席，他在暗示比特币

Michael Saylor’s recent comments on Bitcoin custody have sparked a heated debate within the crypto community.

Michael Saylor 最近关于比特币托管的言论引发了加密社区的激烈争论。

The MicroStrategy executive chairman's suggestion that Bitcoin holders should trust their assets to “too big to fail” banks, while dismissing self-custody proponents as “paranoid crypto-anarchists,” drew strong reactions.

MicroStrategy 执行主席建议比特币持有者应该将自己的资产托付给“大而不能倒”的银行，同时将自我托管支持者斥为“偏执的加密无政府主义者”，这一建议引起了强烈反响。

Ethereum co-founder Vitalik Buterin called the comments “batshit insane,” while Zap founder and CEO Jack Mallers and prominent software engineer Jameson Lopp also expressed similar sentiments.

以太坊联合创始人 Vitalik Buterin 称这些言论“简直是疯了”，而 Zap 创始人兼首席执行官 Jack Mallers 和著名软件工程师 Jameson Lopp 也表达了类似的观点。

Following the backlash, Saylor clarified his comments, reaffirming his support for self-custody rights. The development is especially significant given that MicroStrategy recently disclosed custody of 252,220 BTC (around $18.2 billion).

在强烈反对之后，塞勒澄清了他的评论，重申了他对自我保管权的支持。鉴于 MicroStrategy 最近披露了 252,220 BTC（约 182 亿美元）的托管情况，这一进展尤为重要。

While such offhand comments from a businessman may initially seem trivial, the incident has highlighted a deepening ideological divide within the Bitcoin community.

虽然商人的这种随口评论乍一看似乎微不足道，但该事件凸显了比特币社区内部日益加深的意识形态分歧。

On one side are maximalists who prioritize complete decentralization, while on the other are those who welcome institutional involvement in the crypto industry.

一方面是优先考虑完全去中心化的极端主义者，而另一方面是欢迎机构参与加密行业的人。

Speaking to Cointelegraph, Nate Holiday, CEO of decentralized data developer Space and Time, explained that the tension arises from fundamentally different objectives for crypto.

去中心化数据开发商 Space and Time 的首席执行官 Nate Holiday 在接受 Cointelegraph 采访时解释说，这种紧张局势源于加密货币的根本不同目标。

Institutions like Saylor's MicroStrategy are focused on investment and treasury management to generate wealth for shareholders, Holiday said, adding:

Holiday 表示，Saylor 的 MicroStrategy 等机构专注于投资和财务管理，为股东创造财富，并补充道：

“Institutions like MicroStrategy aren't necessarily concerned with self-custody or preserving Bitcoin's ethos. Their primary goal is to generate returns for their shareholders, and they'll use whatever tools or strategies they deem fit to achieve that.”

“像 MicroStrategy 这样的机构不一定关心自我托管或维护比特币的精神。他们的主要目标是为股东创造回报，他们将使用他们认为合适的任何工具或策略来实现这一目标。”

In contrast, Holiday noted that self-custody is more than just a technical preference for many in the crypto industry. Rather, it is a fundamental principle that aligns with Bitcoin’s revolutionary potential.

相比之下，霍利迪指出，对于加密行业的许多人来说，自我托管不仅仅是一种技术偏好。相反，这是一个与比特币革命潜力相一致的基本原则。

Peko Wan, co-CEO of blockchain development firm Pundi X, told Cointelegraph that the idea of self-custody still rings true to this day: “Institutional custody could shift the community’s mindset towards a reliance on third-party trust, diluting the self-sovereign approach central to Bitcoin’s philosophy.“

区块链开发公司 Pundi X 的联合首席执行官 Peko Wan 告诉 Cointelegraph，自我托管的想法至今仍然正确：“机构托管可能会将社区的心态转向依赖第三方信任，从而淡化自我托管的想法。”主权方法是比特币哲学的核心。“

Solv CEO Ryan Chow also echoed this sentiment, telling Cointelegraph that blockchain is about true ownership, where the buck stops when investors genuinely have control of their coins.

Solv 首席执行官 Ryan Chow 也赞同这种观点，他告诉 Cointelegraph，区块链是关于真正的所有权，当投资者真正控制他们的代币时，责任就停止了。

“Without that value proposition, we wouldn’t need, say, another trading platform or another social media site,” Chow said.

“如果没有这种价值主张，我们就不需要另一个交易平台或另一个社交媒体网站，”周说。

The debate comes at a crucial time for Bitcoin adoption. Spot Bitcoin ETFs have attracted over $800 million in daily inflows on Oct. 30, a level not seen since June.

这场辩论发生在比特币采用的关键时刻。截至 10 月 30 日，现货比特币 ETF 每天吸引了超过 8 亿美元的资金流入，这是自 6 月以来的最高水平。

According to Ben Caselin, chief market officer at crypto exchange VALR, Bitcoin’s resilience in both low and high-interest environments has attracted many institutional investors, contributing to these record inflows.

加密货币交易所 VALR 首席市场官 Ben Caselin 表示，比特币在低息和高息环境中的弹性吸引了许多机构投资者，促成了创纪录的资金流入。

Moreover, this institutional momentum shows no signs of slowing down anytime soon, with KuCoin’s Alicia Kao noting that hedge fund participation in digital assets has increased significantly, with “47% of traditional hedge funds now having exposure to digital assets, up from 29% in 2023.”

此外，这种机构势头没有显示出短期内放缓的迹象，KuCoin 的 Alicia Kao 指出，对冲基金对数字资产的参与度显着增加，“47% 的传统对冲基金现在涉足数字资产，高于 2019 年的 29%”。 2023 年。”

Saylor's controversial comments may foreshadow Bitcoin's evolution into a two-tier system, with Wan suggesting that we could see an evolutionary bifurcation, wherein both institutional and self-sovereign ecosystems co-exist within the Bitcoin network.

Saylor 的争议言论可能预示着比特币将演变成一个两层系统，Wan 表示我们可能会看到进化分叉，其中制度生态系统和自我主权生态系统在比特币网络中共存。

Ian Lee, head of operations at crypto futures exchange Flipster told Cointelegraph that while institutional custody can be a concern for decentralization, it's not a direct threat.

加密货币期货交易所 Flipster 运营主管 Ian Lee 告诉 Cointelegraph，虽然机构监管可能是去中心化的一个问题，但这并不是直接威胁。

“People still have the option of self-custody, so institutional custody is more about offering another choice, not replacing decentralization. While Bitcoin once stood strongly for decentralization, it's now more often seen as an investment vehicle, with less emphasis on its decentralized roots," he added.

“人们仍然可以选择自我托管，因此机构托管更多的是提供另一种选择，而不是取代去中心化。虽然比特币曾经强烈支持去中心化，但现在它更常被视为一种投资工具，而不太强调其去中心化的根源，”他补充道。

As the crypto industry continues to mature, the tension between institutional adoption and decentralization principles will likely persist.

随着加密货币行业的不断成熟，机构采用和去中心化原则之间的紧张关系可能会持续存在。

Holiday says that, when looking at Bitcoin as a financial asset alone, there might be the threat of co-option from mainstream finance, but as a decentralized protocol or a Web3 developmental substratum, Bitcoin stands completely secure.

Holiday 表示，当仅将比特币视为一种金融资产时，可能会存在主流金融选择的威胁，但作为一种去中心化协议或 Web3 发展基础，比特币是完全安全的。

Chow, on the other hand, said that the technology's permissionless nature enables both of these approaches to co-exist, adding: "No 'Bitcoin OG' community can prevent the masses from entering and buying Bitcoin. People will choose the custodial method they feel comfortable with, and no one can stop that."

另一方面，Chow 表示，该技术的无需许可的性质使这两种方法能够共存，并补充道：“没有任何‘比特币 OG’社区可以阻止大众进入和购买比特币。人们会选择他们认为的托管方法很舒服，没有人可以阻止这一点。”

The challenge in this context is to be able to preserve the option for self-custody even as institutional involvement grows — ensuring that Bitcoin remains true to its original vision while adapting to mainstream adoption.

在这种情况下面临的挑战是，即使机构参与不断增加，也能够保留自我托管的选择——确保比特币在适应主流采用的同时保持其最初的愿景。

In closing, what Saylor's reversal ultimately demonstrates is not just a personal backtrack but a broader recognition that Bitcoin's future may depend on finding a balance between its revolutionary roots and its evolving role in the global financial system.

最后，塞勒的逆转最终表明的不仅仅是个人的倒退，而是更广泛的认识，即比特币的未来可能取决于在其革命根源与其在全球金融体系中不断演变的角色之间找到平衡。