Michael Saylor: Everyone Doing This Is Will Be Wiped Out

‘They are thinking… I don’t know if I trust the government. I don’t trust the currency. I don’t trust the banks. I don’t have a savings account. I don’t have a checking account. The payment systems don’t work anymore. Everything’s broken and the entire crypto economy offers a solution to that problem. So everybody’s looking for a way to improve their lives with technology.’

In a quick interview with Fox News CEO and Bitcoin Bull Michael Saylor, he discussed his experience at the Bitcoin 2022 conference. Sailor stated that he was blown away by the passion and energy of all the attendees and speakers.

But after all of the dust settles, we are still looking at 8.5 inflation, a government that many are skeptical about, a financial system that seems unfair and everything feels broken. Saylor believes the answer to the solution is technology, and clearly his preferred technology is bitcoin, while others believe it will be the Defi protocol. In the interview, Sailor states that eventually everyone is going to adopt bitcoin and it’s just a matter of time and the real winners will be those who hodl.

Before we listen to Saylor, make sure you hit the subscribe button and stay to the end as we give you an update on the market and current news.

Michael Saylor:

Of course, if you look at the millennials, if you’re below the age of 40, you’re looking at the world saying “this is hopeless, I’ve got no savings account, I’ve got no chance of catching up with inflation, I’ll never be able to buy a house, everything’s broken and they see a solution in the new crypto economy, so they’re enthusiastic. Of course, the critics and skeptics and intellectuals will over intellectualize this and worry about every way that it can break and I guess that’s their role and the regulator’s worry as well. 

Ultimately, I think that we’ll work out all of those issues and people need a solution to their problem of how to save their money and how to move their money, and that’s why there’s such incredible enthusiasm for bitcoin and all of these crypto technologies.

I think eventually everybody is going to adopt this. I mean, every single day another big bank adopts bitcoin. All the big investors just got the green light from the president of the United States a couple of weeks ago with that executive order. It is just a matter of time. JP Morgan’s come around, Bank of America is coming around, Goldman Sachs is coming around, Blackrock is coming around. It is just a matter of time. You know, I think this is a great opportunity for hodlers. I mean, bitcoin looks a lot less risky today than it did two years ago, so if your dollar cost averaging, you should be grateful for this opportunity. I do think all the assets have paused, and there’s a bit of tension between the fast money traders who don’t really understand bitcoin and the informed hodlers who are holding it for the next decade or longer to give to their grandkids. And I think over time, what we’re going to find is the fast, fast money traders are going to get informed and the hodlers are going to get the money.

To watch the full interview, check out the link in the description. What do you think of Saylor’s thoughts here? Leave a comment 

A quick update on the market:

  • Bitcoin and ethereum have both recovered somewhat, with bitcoin trading above $41,000 and ethereum trading above $3100.
  • Bullish news for bitcoin grabbed headlines as the Luna Foundation bought another 2,508 bitcoin for 100 million. If you want to read more about that, check out the link in the description.
  • Terra is up 3.7 in the past 24 hours, trading at $88.55, but overall, is still down 17.7% in the past seven days.
  • In the past 24 hours, Avalanche showed the most growth, up 5.7%.