Supply Shock

Burning Bitcoin: Michael Saylor's $1.5 BILLION Mistake | Bill Barhydt

5 snips
Apr 1, 2025
Bill Barhydt, Founder and CEO of Abra, discusses Michael Saylor's controversial Bitcoin strategies and his shocking idea to make 17,000 Bitcoin unspendable. He delves into the shifting landscape of crypto politics, where it’s becoming a partisan issue, and highlights how Bitcoin can transform economies like El Salvador's. The conversation contrasts Bitcoin with Ethereum's current challenges and explores the future of decentralized banking, offering insights on innovative solutions for wealth management in the crypto space.
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ANECDOTE

Saylor's Bitcoin Strategy

  • Michael Saylor plans to burn his personal Bitcoin keys, likening it to Satoshi's unspendable coins.
  • Bill Barhydt criticizes this, suggesting Saylor could use the Bitcoin for philanthropic endeavors.
INSIGHT

Saylor's Justification

  • Saylor argues that making his Bitcoin unspendable is a gift to the community, similar to Satoshi's potentially unspendable coins.
  • He believes he's rewarding Bitcoin believers and addressing the historical challenge of inheritance.
ADVICE

Alternative Uses for Bitcoin

  • Barhydt believes Saylor's Bitcoin could be used for greater good, like educational services or Bitcoin-based banking.
  • He emphasizes teaching people about Bitcoin's decentralized nature rather than simply increasing its value.
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