My First Million #161 with Michael Saylor - Why Michael Saylor Believes Bitcoin is Hope
Mar 17, 2021
Michael Saylor, CEO of MicroStrategy and Bitcoin advocate, shares his insights on digital assets and financial strategies. He discusses how Bitcoin can solve treasury problems for companies, ultimately leading to stability and growth. Saylor also reflects on his experiences selling domain names and how fixing his company's balance sheet rejuvenated the business. The conversation touches on contrasting views of Bitcoin, notably Warren Buffett's skepticism, and highlights the cultural dynamics at MicroStrategy as it embraces cryptocurrency.
AI Snips
Chapters
Transcript
Episode notes
Selling Voice.com
- Michael Saylor bought voice.com and other domains, believing in the long-term value of owning parts of the English language.
- He held voice.com for over a decade and eventually sold it for $30 million after a series of escalating offers.
Domain Names as Undervalued Real Estate
- Saylor views domain names as undervalued real estate in cyberspace.
- He believes that owning simple, positive English words is a superior branding strategy compared to creating misspelled brands.
The Treasury Problem
- The "treasury problem" arises when the cost of capital explodes due to money supply expansion.
- Companies must generate returns exceeding the cost of capital to avoid destroying shareholder value, leading to pressure to decapitalize or take risky actions.