- February 10, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Michael Saylor, CEO of MicroStrategy, applies his training in thermodynamics to Bitcoin in an exclusive interview with Bitcoin pioneer and futurist Austin Davis
The financial and economic narratives surrounding Bitcoin (BTC) barely scratch the surface of what makes the digital asset so unique, according to Michael Saylor, CEO of MicroStrategy.
In an exclusive interview with Austin Davis for Cointelegraph, Saylor calls Bitcoin “a masterpiece of monetary engineering,” and one that will likely go down in history as the world’s “first engineered monetary network.”
“Once you understand money is monetary energy and you understand Bitcoin is a monetary energy network, then you start to appreciate the fact that it either does or does not respect the laws of thermodynamics. If it doesn’t, it means it has a leak.”
That “leak,” Saylor says, is inflation, something Bitcoin has been mathematically designed to resist.
Saylor gave the interview in front of his now-famous 17th century Spanish Galleon, which was intricately crafted in the 19th century. Saylor described the model as a “work of art,” and one that provides him with added motivation. The fact that such vessels transported gold across the ocean in days of yore is certainly not lost on him.
Bitcoin has become an $850 billion asset following its latest price surge, but that’s only the beginning of its market impact, according to Saylor. He explains why Bitcoin will eventually “subsume gold” to become a $10 trillion asset before reaching $20, $30, $50 and even $100 trillion in value. At that point, Bitcoin will be the “core of the monetary planet.”
Saylor recently pitched Bitcoin to 1,400 corporate executives, where he discussed strategies for incorporating the digital asset into treasury reserves. In his interview with Davis for Cointelegraph, Saylor had a few words of wisdom about what hodlers should do with their Bitcoin if they hope to achieve generational wealth.
“You should buy it and hold it forever,” he opined. “My advice would be to borrow against it tax-free, never take capital gains, never take an operating income.”
Saylor’s outlook reflects his own strategy of perma-hodling the digital asset as part of a deliberate campaign to adopt the Bitcoin Standard. His conviction is not only based on Bitcoin’s underlying technology, but on the rapidly declining value of fiat currency. His now-famous analogy comparing fiat money to a melting ice cube appears to be resonating with his peers.
Check out the interview to learn more.
