The Concept of Wealth and Its Purpose

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Remastered from our interview in 2021. 

There is a lot of talk about how to make money with Bitcoin… 

But how does it actually work? What are the physics behind it? And can Bitcoin replace the US dollar?

Here today to answer all of these questions and more is Michael Saylor. Michael J. Saylor is an American entrepreneur and business executive who co-founded and led MicroStrategy, which provides business intelligence, mobile software, and cloud-based services. Saylor authored the 2012 book The Mobile Wave: How Mobile Intelligence Will Change Everything. He is also the sole trustee of Saylor Academy, a provider of free online education. As of 2016, Saylor has been granted 31 patents and has 9 additional applications under review.

MicroStrategy added $175 million of Bitcoin to its holdings in September 2020 and another $50 million in early December 2020. On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, taking on debt to increase its Bitcoin holdings to over $1 billion worth. On December 21, 2020, MicroStrategy announced their total holdings, including 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin. Saylor, who controls 70% of MicroStrategy's shares, dismissed concerns by observers that the move is turning MicroStrategy into a Bitcoin investment firm or exchange-traded fund (ETF).

Key Takeaways:

00:00:00 Introduction

00:01:39 Judging a book by its cover

00:04:59 What's the next (6th?) technology wave?

00:08:52 The next megatrend: Virtualization

00:17:01 Why are there ridges on coins?

00:19:20 Where does gold come from, and can virtual currencies replace real ones?

00:32:41 Why is blockchain so great now?

00:37.53 Risk management in science and all things.

00:57:16 The physics of Bitcoin 

01:33:35 What is your ethical will?

01:38:54 What would you put on your billion-year monument?

01:40:59 What mystified you as a 20-year-old that has come to pass?

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Additional resources:

➡️ Check out Michael Saylor:

💻 Website: https://www.michael.com/ 

✖️ Twitter: https://twitter.com/saylor/ 

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