‘Bitcoin is digital energy. It’s a commodity you know you buy it because you can’t stockpile oil and you don’t want to own 37 rental apartments and you don’t want to carry gold bars through airports. That’s why you buy bitcoin and these other things; their securities, their software companies, and software programs. If you want to invest in Apple, Google, Facebook, or some proof of stake network, make sure you get full and fair disclosure, know who owns it, and know what to expect from their investments in technology companies.’ – Michael Saylor.
It’s important to like and invest in bitcoin, but it’s even more important to educate others about the rare qualities of the world’s largest cryptocurrency by market cap. This is Michael Saylor’s message to all bitcoin lovers around the world. In an interview he recently granted, the Microstrategy CEO and co-founders share this important message in an interview.
In recent interviews, Saylor emphasizes the importance of investing in bitcoin and its superiority over other assets. Apart from outperforming several asset classes, including gold and the S&P 500, bitcoin has a number of unique characteristics: it is portable, completely trustless, and truly decentralized. Since it was created, only a very few assets have come close to attaining its genius.
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We will now take you to Michael Saylor’s interview:
‘If you must fight a battle, the battle you want to fight is against ignorance and the past, in favor of the future. Everybody who wants to go into the future knows they’re going into the future, and you’ll find, I would think, 95% agreement. If I asked, “Do you think modern technology can make your life better?” I believe some people would say, “I want to live off the grid, you know, with 19th century technology,” but the majority would say, “Yeah, modern technology is generally better, and I want to embrace it.” So I think that the best thing is to just give people technology. Technology represents something better in the future that came out of human ingenuity. If you can do that, you don’t fight with anybody, right? You’re just pure education.
The next best thing is, if you must fight, fight a battle to persuade people that they’re better off buying a bitcoin than buying a rental apartment as a store of value, or they’re better off buying a bitcoin than buying a bar of gold. Explain to them why a bitcoin is better than a bar of gold, or better than a rental apartment, or better than, you know, a bunch of lumber in the back of the house.
I think if you fight that asset war, there’s a hundred trillion dollars there right now. We’re less than 500 billion. So, bitcoin can increase by a factor of 200 from here simply by getting people to change their asset allocations and, you know, between that and technology, those are just educational pursuits. And then your competitors will say, “Well, don’t use Bitcoin, use my proof of stake thing, and do it without electricity.” You’re going to have to explain that without electricity, you don’t have a commodity. You have a security, and security needs to be registered and taken public with full and fair disclosures because it’s centralized.
You need to explain that in a cheerful, constructive way, but you need to explain it. And then you need to explain how irregardless of all those things, right, the bitcoin network is 10,000 times more secure, more reliable, and more long-lived than the other thing. You have to explain that.
I think a classic marketer would say you’re better off segmenting the market. You’re better off saying bitcoin is digital energy; it’s a commodity. You know, you buy it because you can’t stockpile oil and you don’t want to own 37 rental apartments and you don’t want to carry gold bars through airports. That’s why you buy bitcoin and these other things: their security, their software companies, and software programs. If you want to invest in Apple, Google, Facebook, or some proof of stake network, make sure you get full and fair disclosure, know who owns it, and know what to expect from their investment in technology companies.
Bitcoin is competing with you if you’re going to warehouse soybeans for a decade. It’s competing against steel, oil, natural gas, and land. It’s a digital property digital commodity and it’s the highest form of digital commodity. It’s digital energy. It’s immortal. It lasts forever. You can oscillate it at a thousand megahertz. It’s a cool thing. Let me tell you all about it.
If you segment the market like that, yeah, it’s like, “Well, I guess I’d like some of that.” Well, what else is digital energy? Well, there’s another network 100 times smaller. Check out the market cap of the other proof of work networks. They’re one, you know, 50 or 70 basis points of bitcoin, so they’re like, well. I think I want to own the one that’s 100 times bigger, okay, and then go knock on the next door.’
According to Michael Saylor, Bitcoin’s path to becoming a trillion dollar asset will be smoother and faster when bitcoin lovers educate other people about the rare qualities and importance of the king crypto asset. If you want to make a 10x gain on your bitcoin, then you need to educate 10 people about it and have them educate other people too.
Let’s get back to Sailor’s interview as he speaks about the importance of keeping bitcoin separate from political affiliations:
‘Why is the currency collapsing because of all these policy interventions? If you want to fix the currency, you have to fix a hundred things that are radical, that are highly confrontational, that no one can agree on. If you want to fix the fiat currency, you can simply educate people that bitcoin is better than gold. Each bitcoin will be worth a million dollars. You’re not going to fix any of those other things. You’re just going to fix it, and you’re going to make everyone that supports Bitcoin a hundred times as powerful.
Do you want to do good or just fight? I’m not sure, but I believe that if you just want to fight right. You can also go to Ukraine, where you can fight on one side or the other side. It’s not clear to me, like we fought in Iraq for 20 years, what did we fix? How much energy do you have to fight over this? I’d say nothing. Like I said, there’s no reason why you can’t get involved in politics if you want to. I just think that by conjoining politics, it’s a mistake for bitcoin to become associated with one party or the other party.
Is Bitcoin pro-abortion or anti-abortion? I don’t think it’s either of those things right. It’s better to stay neutral and stay in Switzerland at the point that, uh, bitcoin becomes politicized. At that point, 45–40% of the country will reject you reflexively without listening to a word.’
Several U.S. politicians, both republicans and democrats, own bitcoin and some other crypto assets. If the crypto asset becomes politicized like everything else in the United States, it’s just going to alienate certain members of the population and slow down its acceptance, adoption, and growth as an asset class. That is why the Microstrategy CEO is asking investors and bitcoin lovers to separate the asset from their political affiliations.
What do you think about Michael Saylor’s interview?
[This article is a transcription of a video made by Savvy Finance]
[Original video: https://youtu.be/O63crjScuPM]
