Michael Saylor Defends Bold Bitcoin

Michael Saylor, the co-founder and Executive Chairman of Strategy (formerly MicroStrategy), is one of the most prominent and vocal proponents of Bitcoin. His bold and often controversial defense of the cryptocurrency is rooted in a multi-faceted argument that has made him a central figure in the crypto space.

Saylor’s core arguments can be summarized as follows:

Bitcoin as Digital Capital: Saylor views Bitcoin not as a currency for everyday transactions, but as a superior form of “digital capital” or a treasury asset. He argues that its fixed supply of 21 million coins makes it a perfect hedge against inflation and a better store of value than traditional assets like gold or fiat currencies, which are subject to debasement.

The “Bitcoin Defense Department”: Saylor has implemented a strategy for Strategy that he describes as a “Bitcoin defense department.” The company’s primary business model is to acquire and hold Bitcoin, funding these purchases through various financial instruments, including issuing new equity and debt. This approach has led Strategy to become the world’s largest public holder of Bitcoin.

The Power of Chaos: Saylor believes that Bitcoin’s resilience is tied to its ability to thrive on chaos. He argues that unlike traditional investments that are vulnerable to the failures of governments and corporations, Bitcoin’s decentralized nature allows it to benefit from the instability and entropy of the traditional financial system.

A “Singularity” in Economics: Saylor often describes Bitcoin as a “singularity” where science and economics converge. He believes it represents a paradigm shift that will fundamentally change the global financial system, much like the invention of electricity or the internet.

Long-Term Vision: Saylor has consistently expressed an unwavering long-term confidence in Bitcoin’s potential. He has made audacious price predictions, with some reports indicating forecasts as high as $13 million per coin by 2045. He encourages a “Bitcoin-centric mindset” where individuals and companies hold onto their Bitcoin for the long term, viewing it as a powerful tool for preserving and growing wealth.

Not Hoarding: Despite Strategy’s massive Bitcoin holdings (over 628,000 BTC), Saylor has clarified that his company is not trying to “hoard” all the Bitcoin. He has pointed out that other major players, such as BlackRock’s iShares Bitcoin Trust (IBIT), hold a significant amount of the cryptocurrency. Saylor’s strategy is a public example of how companies can build their business around Bitcoin, which he believes provides a more refined, tradable, and professional investment vehicle for a broader audience.

Michael Saylor, the co-founder and Executive Chairman of Strategy (formerly MicroStrategy), is one of the most prominent and vocal proponents of Bitcoin. His bold and often controversial defense of the cryptocurrency is rooted in a multi-faceted argument that has made him a central figure in the crypto space.

Saylor’s core arguments can be summarized as follows:

Bitcoin as Digital Capital: Saylor views Bitcoin not as a currency for everyday transactions, but as a superior form of “digital capital” or a treasury asset. He argues that its fixed supply of 21 million coins makes it a perfect hedge against inflation and a better store of value than traditional assets like gold or fiat currencies, which are subject to debasement.

 

The “Bitcoin Defense Department”: Saylor has implemented a strategy for Strategy that he describes as a “Bitcoin defense department.” The company’s primary business model is to acquire and hold Bitcoin, funding these purchases through various financial instruments, including issuing new equity and debt. This approach has led Strategy to become the world’s largest public holder of Bitcoin.

The Power of Chaos: Saylor believes that Bitcoin’s resilience is tied to its ability to thrive on chaos. He argues that unlike traditional investments that are vulnerable to the failures of governments and corporations, Bitcoin’s decentralized nature allows it to benefit from the instability and entropy of the traditional financial system.

A “Singularity” in Economics: Saylor often describes Bitcoin as a “singularity” where science and economics converge. He believes it represents a paradigm shift that will fundamentally change the global financial system, much like the invention of electricity or the internet.

Long-Term Vision: Saylor has consistently expressed an unwavering long-term confidence in Bitcoin’s potential. He has made audacious price predictions, with some reports indicating forecasts as high as $13 million per coin by 2045. He encourages a “Bitcoin-centric mindset” where individuals and companies hold onto their Bitcoin for the long term, viewing it as a powerful tool for preserving and growing wealth.

Not Hoarding: Despite Strategy’s massive Bitcoin holdings (over 628,000 BTC), Saylor has clarified that his company is not trying to “hoard” all the Bitcoin. He has pointed out that other major players, such as BlackRock’s iShares Bitcoin Trust (IBIT), hold a significant amount of the cryptocurrency. Saylor’s strategy is a public example of how companies can build their business around Bitcoin, which he believes provides a more refined, tradable, and professional investment vehicle for a broader audience.

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