The Bitcoin Treasuries Podcast with Tim Kotzman Custody Models: Key Practices & Tradeoffs with Joe Consorti, Jackson Mikalic, & Joe Burnett
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Sep 24, 2025 Join Joe Consorti, Head of Growth at Horizon, Jackson Mikalic from Onramp, and Joe Burnett of Semler Scientific as they dive into the intricacies of Bitcoin custody models. They discuss the critical risks of single points of failure and trade-offs between self-custody and relying on third-party services. Hear insights on minimizing insider threats and counterparty failures while exploring non-custodial ownership. They even touch on the future of time locks and the limitations of insurance in the Bitcoin custody landscape.
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Multi-Institution Custody Eliminates Single Points
- Multi-institution custody distributes keys across multiple institutions to remove single points of failure.
- This reduces counterparty and rehypothecation risk for large Bitcoin holdings.
Proof Of Reserves Builds Trust
- Proof of reserves builds investor trust by transparently showing holdings on-chain.
- Collaborative multisig enables proof of reserves without exposing single-key vulnerabilities.
Favor Multisig Over Single-Custodian Models
- Choose between self-custody and third-party custody based on control versus operational risk.
- Prefer multi-institution or multisig setups to avoid single-custodian failure modes.