Ethereum co-founder Vitalik Buterin wrote that self-custody is very important, and social recovery wallets and multi-signature wallets are a good way to achieve this goal. He himself uses multi-signature wallets to store most of his funds, and so does the Ethereum Foundation. Once social recovery wallets become mature enough, Vitalik's suggestion is to use social recovery wallets for hot wallets that store a small portion of an individual or organization's funds, and to use multi-signature wallets for cold wallets that store an individual or organization's savings.