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Michael Saylor, Executive Chairman, MicroStrategy – The Bitcoin Buy-in: Embracing a New Paradigm of Digital Capital

Dec 18, 2024

Michael Saylor, Executive Chairman and co-founder of MicroStrategy, shares his evolution from Bitcoin skeptic to advocate. He discusses Bitcoin's position as a digital capital asset and its potential to disrupt traditional finance. Saylor highlights clues that indicate Bitcoin's permanence and dispels myths held by USD maximalists. He elaborates on the regulatory landscape, suggesting a future where Bitcoin could complement the U.S. dollar's dominance. Engaging in essential discussions, he emphasizes the importance of embracing innovation and understanding new valuation methodologies.

46:06

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Episode guests

Michael J. Saylor

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Episode notes

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Quick takeaways

Michael Saylor highlights the necessity of dedicating significant time to understanding Bitcoin, as this knowledge dispels skepticism and misconceptions.

He believes Bitcoin is nearing mainstream financial acceptance due to increasing regulatory support and institutional interest, marking a pivotal shift in economic paradigms.

Deep dives

Understanding Bitcoin Through Research

To grasp the significance of Bitcoin, one must engage in thorough research and due diligence. Michael Saylor transitioned from skepticism to advocacy by consuming a variety of sources, including debates, speeches, and influential literature on the topic. He emphasizes that real understanding comes from dedicating substantial time, ideally around 50 to 100 hours, to studying Bitcoin's fundamentals. This investment in knowledge helps dispel common misconceptions held by skeptics who often fail to explore the wealth of information available.

Intro

4min

Evolving Perspectives on Bitcoin

27min

The Future of Bitcoin: Regulatory Implications and Global Capital Dynamics

2min

Navigating Digital Assets and Capital Market Reform

6min

The Evolution of Sound Money: From Barter to Bitcoin

6min

Shifting Paradigms: From Information to Digital Capital

2min

Summary:

With a new, crypto-friendly administration incoming, 2025 may be the year we see Bitcoin integrate more fully into mainstream finance in America and globally. Though volatile, and with an uncertain future that will heavily depend on how macroeconomic conditions and regulatory policies play out across the year, there's reason to believe that Bitcoin could soon be more prominent than ever. Today's guest is here to tell us why.

Michael Saylor is the Executive Chairman and co-founder of business intelligence company MicroStrategy (Nasdaq: MSTR), and a leading advocate of Bitcoin. MicroStrategy considers itself to be the world's first Bitcoin Company, and under Michael's leadership have adopted a unique Bitcoin acquisition strategy with approximately $42 billion in Bitcoin held to date.

Michael will also be the keynote speaker in ICR's 27th annual conference, held in Orlando, Florida in January 2025.

In this episode, Michael describes his journey from skeptic to Bitcoin maximalist, emphasizes the importance of understanding Bitcoin as a digital capital asset, and discusses its potential to disrupt traditional valuation methodologies in finance.

Highlights:

Michael recommends resources for Bitcoin beginners (2:37)
Why fear of progress holds us back (3:55)
Michael points out the clues suggesting Bitcoin is here to stay (7:11)
What USD maximalists get wrong (13:15)
How we can understand the potential of Bitcoin through an engineering lens (16:25)
Why valuation methodologies need to adapt to include Bitcoin (18:48)
How Bitcoin outperforms traditional investments (28:09)
Why supportive regulatory environment is crucial for Bitcoin's growth (30:54)
Michael explains why the current capital market structure favors a select few (34:59)
Why sound money is critical for societal progress (39:00)

Links:

Michael Saylor LinkedIn

MicroStrategy Website

Book: The Bitcoin Standard by Saifedean Ammous

ICR LinkedIn

ICR Twitter

ICR Website

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.