Will Bitcoin Billionaire Investor Michael Saylor End up at McDonald's?

The MicroStrategy CEO and biggest corporate owner of bitcoin is HODLING for the long haul, come bull or bear market.

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Will Bitcoin Billionaire Investor Michael Saylor End up at McDonald's?

Back in April, I attended Bitcoin 2022, held in Miami, where I spoke with today's guest, who is the CEO of the publicly traded company that owns more bitcoin than any other. 

Can you guess which company that is? 

It's not Tesla, Square, or Coinbase. 

It's MicroStrategy, which is based in Virginia and provides business intelligence, mobile software, and cloud computing. It owns about 2 1/2 times as much bitcoin as the next closet company, which would be Tesla. 

The reason MicroStrategy is so long on bitcoin is because its 57-year-old billionaire CEO, Michael Saylor, had an epiphany in 2020, when COVID-19 had shut down most of the country. Bitcoin, he tells me, "is an approximation of a perfect monetary system because it is correct. It has no inflation in it. It's not corruptible because it's decentralized." He believes bitcoin is the last, best hope of creating an economy that is independent of the machinations of politics, central banks, and connected investors who rig the system to benefit themselves at the expense of regular people.

While the economy tanked due to external factors, Saylor directed MicroStrategy to keep buying bitcoin regardless of the price. The company is committed to "hodling" for the long term, a position Saylor believes in now more than ever as inflation takes hold. 

And he's still saying that today, even as bitcoin has slid down to just $31,000 as I write this—down from its peak of almost $68,000 last November. Saylor's Twitter account is a beauty to behold, with him recently quoting Oliver Wendell Holmes to the effect that "youth fades; love droops; the leaves of friendship fall; A mother's secret hope outlives them all" and posting a picture of him working at a McDonald's saying it's "time to get back to work."

So bitcoin's bear market is actually a perfect time to release my interview with him from Miami in April, where he explains why he's all in on bitcoin, how his training as an engineer informs his worldview, and his belief that one thing holding back the mass adoption of a non-state-backed currency is a lack of clarity in how the U.S. government will regulate it.

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Here's the video version of Reason's interview with Michael Saylor. Subscribe to our YouTube channel and receive automatic notifications when new videos go live.

Comments

[SRG]

"Area man talks his own book"

[5.56]

Hey man, I saw you in the other crypto thread talking about the subject like you know something about it while you obviously don't. Do you know what a hash function is bro?

[SQRLSY One]

Speaking of "talking your own book"... Here is 5.56.666.sick-sick-sick talking its own smug Smaug-smegma superiority over everyone else!

[5.56]

I have to say i have rarely seen a bigger failure in life than you and your schizophrenic loser website lol

[SRG]

I do know something about crypto - but you don't need to know what a hash function is (I do) in order to understand cryptocurrencies and their drawbacks as financial markets.

Your point is like saying you need to understand how a computer works in order to value Apple stock.

Stick to maths, not markets, bro.

[5.56]

False equivalency as expected from someone who has no clue.

“Don’t need to know what a hash function is”

Thats like saying i dont need to understand what a wheel is to understand the utility of a car. Its really that basic and youre talking like its kinda out there.

I will continue to use my knowledge to make money on the market and pass obsolete figures like you with a smile. 🙂

[SQRLSY One]

"...biggest corporate owner of bitcoin is HODLING for the long haul..."

What is that thing that you're HODLING in your pocket there? Is it a gun, or are you just happy to see me?

[Don't look at me!]

It’s cool kids talk. You won’t understand.

[SQRLSY One]

A misspelling of "holding." Hodling means "holding a cryptocurrency" for future profits and not selling. The term came from the misspelled "I am hodling" in an early Bitcoin forum when the crypto's price was dropping.

https://www.pcmag.com/encyclopedia/term/hodling#:~:text=A%20misspelling%20of%20%22holding.%22,the%20crypto's%20price%20was%20dropping.

The quarterback called the bitcoin team into a HODL then? Hodl, hodl, in the mud podl?

[5.56]

LOL fucking obsolete dipshits everywhere today

[SQRLSY One]

5.56.666.sick-sick-sick lives, breathes, and exists just to troll people about how super-SUPERIOR it is!

5.56.666.sick-sick-sick accesses the internet from the psyche ward by spinning its head 360 degrees and more, repeatedly, and barfing green-gray spilled-split-pea soup all over everyone, and growling, “Satan PROMISED me internet access, and you’d better NOT get in MY way, dammit!!!”

5.56.666.Sick-Sick-Sick might want to read the below…
A helpful book is to be found here: M. Scott Peck, Glimpses of the Devil
https://www.amazon.com/exec/obidos/ASIN/1439167265/reasonmagazinea-20/
Glimpses of the Devil: A Psychiatrist's Personal Accounts of Possession

If “miracle happens here” and 5.56.666.Sick-Sick-Sick gets an exorcism, it needs to recall, you MUST actually PAY your exorcist… Or you might get…
…

…

…

… Re-possessed!

[5.56]

LOLOL one trigger pull makes you empty the entire magazine, I love it 😀
Are you only verbally incontinent? You seem a little old lol

[JesseAz]

Sarc has had a bad couple of days. Melting down on all of his socks.

[5.56]

A million socks isn't enough surface area to capture the extent of the incontinent meltdowns of that dumbo lol he needs to change his diaper brand

[Diane Reynolds (Paul.)]

Holy shit, I'm no economist (lawyer or Doctor) but shouldn't Bitcoin be surging at this exact time? Although, to be fair, Gold seems to be falling, too. Hmm...

[JesseAz]

Many assets were inflated due to covid spending last year. See NFT or dodgecoin

[JesseAz]

Give young people extra money to sit at home and not work and they invest in get quick rich schemes apparently.

[mad.casual]

The fifth paragraph is both baffling and disturbing. Imagine if, in 1400 A.D., the world's banking centers in Italy had declared all currency problems, now and forever, solved with the invention of centralized banking around The Church/Christendom. I mean, it was morally correct, incorruptible, and decentralized... what could go wrong?

[mad.casual]

'It's an approximation of a perfect monetary system. There are no flaws... unless we've approximated incorrectly.' could not be more ironic.

[Overt]

How was centralized banking decentralized?

[mad.casual]

How is one currency on a single blockchain or ledger decentralized?

You didn't have to work through your local merchant or guild in your local village to transact. Any bank within the network throughout Christendom would honor your banking needs.

[mad.casual]

You didn't have to work through your local merchant or guild in your local village to transact. Any bank within the network throughout Christendom would honor your banking needs.

And, to the point, go ahead, tell me it sounds like a scam to secretly centralize banking/value/currency in the centralized, networked hands of the wealthy.

[Overt]

"How is one currency on a single blockchain or ledger decentralized?"

By giving literally anyone with a raspberry pi to have a say in whether that ledger is valid or not.

Do you understand what decentralization is? Or is the fact that everyone in an RV Park uses electrons in their generators make it a centralized power grid?

[mad.casual]

By giving literally anyone with a raspberry pi to have a say in whether that ledger is valid or not.

By that same token, anyone with an ATM card has a say in how the banking ledger gets run. Sure, your ATM card doesn't directly translate to any sum of money held and even relatively large sums of money individually only buy an infinitesimal share of the say in how the ledger is run but, sure. Your Raspberry Pi, at more than 10X the cost and complexity of a network you maintain, gives you a say in the ledger the same way an ATM card does.

Do you understand what decentralization is? Or is the fact that everyone in an RV Park uses electrons in their generators make it a centralized power grid?

Do you know the difference between decentralized and distributed? Moreover, is there only one single decentralization like there is only one true God or can something be decentralized in one facet, distributed in another, and in still another, be centralized and multiple different ideological groups adopt different ethos and norms about each facet individually? Or is it just believers in the one true path to salvation and the damned to you?

[mad.casual]

Or is it just believers in the one true path to salvation and the damned to you?

Seriously, especially considering that you don't know who Satoshi is or if he even exists, your worship of him makes the Medici's alignment with The Church seem downright secular.

[CE]

One ounce silver coins are still the best currency system.

[Overt]

It is Bitcoin IS surging. It is up like 300% since the beginning of the pandemic. Being inflation proof is not the same as being speculator proof.

[ElvisIsReal]

Bitcoin already did its surging right after the election when it went from 15k to 60k. It's now recorrecting because Biden didn't get ALL his spending wishes through, only half.

[Diane Reynolds (Paul.)]

and his belief that one thing holding back the mass adoption of a non-state-backed currency is a lack of clarity in how the U.S. government will regulate it.

Lack of clarity on how that which was supposedly unregulatable will be regulated? Now I have to listen.

That's almost like yesterday's article that pimped this new digital communications technology which will connect the world that will hopefully one day route around the censorship and regulation of governments.

[Don't look at me!]

I remember that. It was going to be the “information super highway”.

[Longtobefree]

And yet, it still requires government permits - - - - - - - -

[Weigel's Cock Ring]

"Bulls make money, bears make money, pigs get slaughtered."
-Jim Cramer

[Illocust]

I mean. He's not making the worst decision. If he decided to sell now, the value of what's he's holding would be gone. The best option he has is to weather the downturn. If bitcoin can keep on par with stocks for losses through the recession, it will have cemented itself for the long term.

[Overt]

Even with the downturn, his company is probably up 2 - 3x on their purchase.

[CE]

Except that stocks are shares in companies, many of which will continue to be profitable and even grow after the recession.

Bitcoin will either remain as a perpetual zero-coupon bond, or be replaced by something better, or more likely, be replaced by something worse issued by the government.

[Overt]

OT: https://twitter.com/JudiciaryGOP/status/1524531031851909120

Turns out that FBI Whistleblowers are releasing info on all the parents and parents organizations that are being investigated by the FBI.

Hey remember when Chemjeff assured us that all the DoJ was doing was having meetings about this?

Remember how focusing on the DGB is foolish because they are just an advisory committee and won't actually do anything to censor speech the government disagrees with? I guess we shouldn't be concerned that the fact that the new head of the board is on record saying she (and blue checks like her) should have the power to amend tweets they disagree with- you know, to add context.

[Mother's Lament]

Within six months every single claim Chemjeff, Shrike and White Mike make, always falls apart. Guaranteed.

I hope that they never claim global thermonuclear war, asteroid strike or alien invasion is impossible because then we're fucked.

[mad.casual]

In all fairness, if you're unprepared after the 'two weeks' between the virus escaping a weapons lab in Wuhan aliens walking out of Roswell and the full on invasion and Jeff/Shrike/Mike's parroting of official denial whatever happens to you isn't really their fault.

[mad.casual]

Agh! tag fail.

In all fairness, if you're unprepared after the 'two weeks' between the virus escaping a weapons lab in Wuhan aliens walking out of Roswell and the full on invasion and Jeff/Shrike/Mike's parroting of official denial whatever happens to you isn't really their fault.

[Nardz]

https://twitter.com/zerohedge/status/1524567886152577024?t=jcAdbHo6GQ3UzqmLPwO7Sg&s=19

*BIDEN ADMINISTRATION CANCELS ALASKA OIL AND GAS LEASE SALE: CBS

[CE]

How's the rig count though?

[Nardz]

https://twitter.com/stacyhrae/status/1524466373119942656?t=ekjrqVLMSqITp115MS2AnA&s=19

U.S. firm, BIOMILQ, is artificially producing human breast milk. Claims it’s “better for the environment.” Bill Gates, alongside other investors, helped BIOMILQ raise $21 million in October 2021.

[Link]

[mad.casual]

If you're rallying people against the idea that greater breast availability is better for the environment, I'm going to have to sit this one out.

Other than that, baby formula practically predates the Revolutionary War and Bill Gates using The Science to make things more complicated and bourgeois isn't really new either.

[CE]

So if you can't get them to inject the nanites to fight a virus that doesn't really impact children, maybe you can put them in baby formula after creating a shortage?

Is Dr. Evil on the board of directors?

[But SkyNet is a Private Company]

I really don’t get the appeal of bitcoin, but for Zod’s sake can anyone explain what McDonalds has to do with this story?

[mad.casual]

McDonalds is the job you get, as an adult, when your career nosedives and you stagger out of the smoldering crater.

[Longtobefree]

Doesn't Wal-Mart still have 'greeters'?

[Ragnarredbeard]

Not enough positions for all the oldsters. McDonald's has lots of positions to fill that the youngs don't want.

[CE]

McD's here pays 18 bucks and hour with a signing bonus and 401k. I'd jump at that if I were still a kid.

[Nardz]

https://twitter.com/RepThomasMassie/status/1524569761580998663?t=kF8PkUN_bBXBGbmWO3jYPg&s=19

Congress has voted for ten bills now that will draw us further into the conflict between Russia and Ukraine, put US citizens at greater risk, prolong the war, waste tax-payer money, and increase domestic food and energy prices.

I voted against ALL of them.

[mad.casual]

I voted against ALL of them.

Which, given that the Ukraine is and was winning without us, is the only sensible choice. Looking like NATO is fucked either way.

[mad.casual]

Looking like NATO is fucked either way.

Mr. Zelensky welcome to true independence, if you can keep it. You fucking nationalist.

[Overt]

Even worse, it is looking like NATO would rather Russia embarrass itself in Ukraine than save some face and get peace. They are doing everything in their power to ensure that Ukraine and Russia remain warring, because it is sapping Putin dry. A pity about the Ukrainian kids, of course.

On the one hand, there is a little bit of irony here. Rich Ukrainian oligarchs made their country a center piece of NATO policy for the past 15 years, through think tanks and VP's Sons. They encouraged our government to consider them the battleground between Russia and the rest of Europe. That was great while we were in Cold War v1.5 but now that we are in a hot war, I think they are a bit shocked that the US still considers them used best as the battleground between Russia and the rest of Europe.

On the other hand, this isn't the fault of many, many, Ukrainians whose corrupt governments are merely a shadow of the legacy left behind by the terrible Soviet empire. It is unconscionable that our government and the Brits and other NATO allies are consistently submarining efforts for peace in order to make Russia use bullets on Ukrainian bodies.

[ElvisIsReal]

Even worse, it is looking like NATO would rather Russia embarrass itself in Ukraine than save some face and get peace. They are doing everything in their power to ensure that Ukraine and Russia remain warring, because it is sapping Putin dry. A pity about the Ukrainian kids, of course.

On the one hand, there is a little bit of irony here.
---------
You mean the part where we try to make Russia do what we did to ourselves for two decades in Iraq and Afghanistan?

[Ragnarredbeard]

They are not winning without us. Without US weapons, money, and intel support the Ukrainians would have been beaten into the ground already. NATO is supporting the effort, but doesn't have the ISR assets or money to do what we've been doing thus far.

[Ragnarredbeard]

"He believes bitcoin is the last, best hope of creating an economy that is independent of the machinations of politics, central banks, and connected investors who rig the system to benefit themselves at the expense of regular people."

How did someone this stupid become a billionaire?

[SRG]

You don't have to be smart, you only have to be smarter. ( cf Trump)

[bonesbrigade]

I listened to this guy and immediate wondered if there is way to short whatever he is invested in. I can't believe he is a billionaire.

[n00bdragon]

He's not. He's one of those "if I sold everything I owned at a made up price that in no way reflects reality I'd have a billion dollars" people. There's nowhere to offload a billion dollars of bitcoin. No one wants to buy a billion dollars of bitcoin, and if you sell it off in small chunks you'll lose most of your "fortune" in transaction costs.

What we have here, ladies and gentlemen, is a bag holder; and he would very much like you to believe that the bag is worth holding.

[CE]

Not McDonald's.
He can probably still afford Sizzler.

[NetflixTrick Com 2]

very confident man

[NetflixTrick Com 2]

https://digithindiblog.com/category/hindi-meaning/

[Butterfly Graphics and Printing]

Wholesale Trade Printing