Trump: I Will Support The Right To Self-Custody
Theya is the world's simplest Bitcoin self-custody solution. With our modular multi-sig vaults, you decide how to hold your keys.
Whether you want all your keys offline, shared custody with trusted contacts, or robust mobile vaults across multiple iPhones, it's Your Keys, Your Bitcoin.
Download Theya on the App Store.
the cliff-notes:
- Trump supports the right to self-custody for American bitcoin holders
- Why self-custody is so critical as we reach the midpoint of the 2020s
- How you can protect yourself from civil asset forfeiture
Former President Donald Trump defended Americans' right to self-custody their bitcoin during a speech Saturday at the 2024 Libertarian National Convention:
"I will support the right to self-custody to the nation's 50-million crypto holders" - Donald J. Trump
In stark contrast to the Elizabeth Warrens of the world, who have been avowedly anti-bitcoin and lambasted self-custody as a tool for criminals, Trump's remarks are in the exact opposite direction. Supportive, accommodative, and with a clear desire to make the U.S. have the best, most competitive regulatory and user framework for custodying, building, and using bitcoin and its adjacent ecosystem.
This spin on Elizabeth Warren's infamous 'anti-crypto army' ad from Ryan Selkis perfectly sums up the juxtaposition between the left and the right:
Why is self-custody so important? What made the crowd burst into a standing ovation when Trump said he'd support it?
Bitcoin is one of the very few assets in the world that you can own, yourself, without the need of a third party to hold it for you. Bitcoin is what's known as a bearer asset, meaning that—
- Whoever holds the asset is considered the owner.
- Can be transferred simply by handing over the asset.
- Transactions involving bearer assets can be anonymous, as there is no need to register ownership.
- If lost or stolen, bearer assets cannot be recovered, as there is no ownership record.
On top of these things, bitcoin is the only bearer asset that you can store in your head, just by memorizing your seed phrase, making it free from seizure from third parties if you can withstand what they'll do to you to try and take it. Other bearer assets like physical cash, bearer bonds, and gold don't have this same attribute, making them much easier to steal. Not to mention the physical heft of gold making it highly impractical to store large sums of wealth in it.
Therefore, the right of a country's citizenry to self-custody its bitcoin must be enshrined and protected. The Liz Warrens of the world and their disingenuous framing of self-custody as a tool for criminals must be obliterated at the regulatory level to ensure that bitcoin can be used as intended as long as the United States is a sovereign nation that does not deviate from its own legal code.
Speaking of which...
That same man who just supported Americans' right to self-custody their bitcoin was just found guilty on 34 separate felony counts in New York State. Regardless of the validity of the charges, which still need to be worked out in the appellate courts, it is undeniable that there is something much larger afoot here.
The U.S. seized its citizens' gold in 1933 to forcibly devalue the dollar and strengthen the economy. Flash forward 91 years and the leading Presidential candidate who supports Bitcoin self-custody, a measure that would prevent a national forfeiture of citizens' hard assets, was just convicted of 34 felonies. Tensions are rising, not just domestically but abroad in Europe, the Middle East, and off the shore of Taiwan. It's not hyperbolic to suggest that the U.S. may be dragged into a hot war soon.
With all this in mind, the importance of taking your bitcoin into self-custody has never been more pronounced.
Self-custody means you control your bitcoin. No banks, no exchanges, just you and your private keys. It is how bitcoin is intended to be used: by the individual.
When you leave your Bitcoin on an exchange or with a third party, you're essentially trusting them with your money. History has shown us that exchanges can be hacked, go bankrupt, or even be fraudulent. Remember Mt. Gox? It was once the biggest Bitcoin exchange, but it lost around 850,000 Bitcoins due to a hack. More recently we've had FTX and Celsius, where hundreds of millions of dollars in customer funds vanished after being lent out fraudulently without customers' consent in order to generate profit.
With self-custody, you eliminate the risk of losing your Bitcoin due to a third-party failure. You also experience heightened security, heightened privacy, and true financial sovereignty where you can transact freely without needing permission from any authority.
Theya is the world's simplest bitcoin self-custody solution. With options for single-sig and multi-sig bitcoin vaults, there is something for everyone. Whether you own a lot or a little, holding it for yourself or with a family member, or planning out your inheritance for your holdings when you're gone, Theya takes all of the hassle out of self-custodying your bitcoin. The best part? Theya is fully non-custodial. You retain full control over your BTC while using Theya, can withdraw and close your vault at any time, and recover your funds if anything were to happen to Theya.
Download Theya on the App Store, try it out, and take self-custody seriously:
Final thought: not your keys, not your coins.
Take it easy,
Joe Consorti
Theya is the world's simplest Bitcoin self-custody solution. With our modular multi-sig vaults, you decide how to hold your keys.
Whether you want all your keys offline, shared custody with trusted contacts, or robust mobile vaults across multiple iPhones, it's Your Keys, Your Bitcoin.
Download Theya on the App Store.