Supply Shock Self-Custody is the Only Permissionless Bitcoin | Charles Guillemet
Sep 2, 2025
In this engaging discussion, Charles Guillemet, CTO at Ledger, emphasizes the power of self-custody for Bitcoin owners. He explores the evolution of Bitcoin custody and the trade-offs between ETFs and actual self-management. Listeners learn about the critical role of seed phrases and the need for secure backups. Charles also delves into Ledger Vault's role in institutional adoption and the challenges of user-friendly multisig and hardware wallets. Ultimately, he urges users to embrace decentralization for genuine financial freedom.
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Permissionless Value Requires Self-Custody
- Bitcoin's hedge value only works if it's permissionless and you don't need anyone's permission to own it.
- Self-custody is central because it makes you the sole actor able to move your value on-chain.
Two Pillars Of Permissionless Money
- Permissionless money rests on two pillars: decentralized consensus and self-custody.
- Remove either and you lose the core value proposition of Bitcoin.
Use Hardware Wallets As Value Grows
- Use a hardware wallet if you want to truly own and use crypto on-chain rather than merely speculate.
- Ledger secures a disproportionate share of market value, so invest in strong security as balances grow.