Michael Saylor: "Bitcoin is economic immortality"

the price of Bitcoin is going to go up

to $110 million coin the difference

between 2% inflation or 2% deflection

per year and 0% deflection or 0%

inflation is the difference between an

average life expectancy of 70 and

immortality what's the difference

between perfect money and imperfect

money perfect money is economic

immortality imperfect money is we all

have a short brutal life the Chinese

will Embrace Bitcoin name a company

that's still in existence from a 100

years ago off the top of your head where

the stock is worth more today in real

terms than it was then what if I told

you I could make your company live

forever when you have a need to know

when you have a crisis if your country

is in crisis if your company is in

crisis if your family is in crisis when

the bank freezes and fails and the

currency crashes and you have a business

or you or you have a life and you're in

that culture you have a need to know

your eyes are open now you adopt Bitcoin

Trump has discovered coin Trump has a

need to know Mike I don't remember when

did we first meet and you know and

you'll say well you know the first time

we met you kicked me out and told me I

was a and they're like I don't

remember that at all did I do that I'm

sorry I did that the difference between

me Swinging a baseball bat at your head

while you're looking that way versus me

doing this with a baseball bat saying

you should duck I'm about to swing it

right one of them is interesting maybe

it's entertaining and the other is

brutal fire is scary people run from the

fire don't wave the fire in your

sister's face when Apple encounters

Bitcoin I think they may look at it and

think wait a minute uh Bitcoin multi-

signature Cloud what if we actually make

the Apple watch a signing device and

combine it with the iPhone and combine

it with the third Sony device on a

laptop and then we do something with the

cloud maybe the future biggest bank in

the world is Apple computer and Apple's

going to give us easy to use safe

multisig that's 6 years roles can figure

out how's Bitcoin going to scale you're

going to see a growth in layer 2os a

growth in layer 3es you're going to see

the transactions on layer one get bigger

the average transaction size is going to

go to 2,000 then 20,000 then 200,000 and

2 million and 20 million do you want the

billion people in China to be rich and

do you want to be rich while the Chinese

government still has a bunch of laws

that you may or may not agree with or do

you want the people in China to be poor

and you to be poor while the Chinese

government has a set of laws that you

don't agree with do you think that

you're so great you're Superman that you

can just go and topple the entire

government by barking on Twitter how did

Bitcoin change

[Music]

you hi Michael how you doing uh thank

you for being on my podcast awesome

happy to be here it's actually my second

in-person podcast ever I have done 151

podcast episodes and you're my second

one in person I I love that a lot

they're a lot better in real life

definitely a lot better and I had

totally different uh questions plan and

I just love the presentation you gave at

Bitcoin prag right now um we now at the

Bitcoin prag event uh and I wanted to

just start up with the income uh that

you gave the entry in the presentation

you gave about Bitcoin is the

singularity where science collides with

economics and I needed to think about

that few times before I like oh maybe I

grasp what it is um can we go deeper on

that like what does this mean uh on many

levels what do you mean with

that the scientific method the

application of of um

mathematics uh disciplined logic

experimentation engineering

um trial and

error um if we think about the

scientific method applied to

astronomy right the the the capern

Revolution and the breakthroughs in

astronomy they came because of a new

instrument right advances and Optics

allowed us to create a

telescope and before the telescope

before that technology if you will for

100,000 years human beings looked up in

the sky and they imagined they erod what

was going on and then they filled in the

blanks with with their uh Superstition

and their creativity and they had their

fears and hopes and dreams and

religion mixed in with with observation

and they somehow got around to

concluding that the Universe revolved

around the earth and if anybody

suggested the universe did not revolve

around the earth they were burned or

cancelled or ignored

and that's a horrific you know wrong

Theory and it causes you to make lots of

mistakes mistakes in

navigation you know uh maybe you'll

never be able to master Concepts that

would be critical to advancing the

civilization and the Scientific

Revolution applied to astronomy started

with the technology when that telescope

was created we could see the moons of

Jupiter when we could see the moons of

Jupiter we could start to calculate the

impact back you know of the moons of

Jupiter and we could correlate those

those orbits to what we knew about

Kepler's laws and Mathematics and

somehow mathematics and

physics um were impacted by uh

engineering and technology and they

resulted in a profound paradigm shift

and that Paradigm Shift was maybe the

universe doesn't revolve around the

Earth in fact it seems quite obvious

that that's not the way the universe

work works and that catapulted us into

an entirely new world and what follows

next is Newtonian physics and after

that the invention of of all of the

mechanisms that made civilization

possible

um economics is pseudo science before

Satoshi it's it's a quasi

religious uh liberal arts and it's full

of people's opinions and prejudices and

biases

and uh in the in the absence of an

instrument and the instrument in this

case is is perfect money or proper money

if you don't have uh an instrument of

proper money that doesn't have

deflection then you can't posit a

properly functioning economy and so all

of the economists before Satoshi they

were trying to work out the laws of

Economics with shells and glass beads

and pieces of paper and and uh and

credit instruments and

and those are all imperfect instruments

right they're they're so imperfect you

could never create a beautiful or

perfect

mechanism um and in the absence of the

ability to manufacture the perfect

mechanism you can't uh you can't move

forward uh with uh scientific advance so

when I say uh you know Bitcoin is

singularity where science collides with

economics I mean that we invented an

instrument and the instrument was you

know it's a combination of it was the

math of

cryptography it was the engineering and

the manufacturing of

semiconductors it was the computer

science of the

internet and when you put the internet

and semi

conductors and you put cryptography

together with a few a few insights you

can create this

mechanism that we call Bitcoin and that

and that becomes uh a mechanism uh to

keep true

track of money to keep to to measure

true

money when I say it like that it reminds

me of of another great scientific

revolution it was John Harrison's

invention of the

clock you know and and the perfect a

maritime clock that could be used to

calculate longitude on the ocean right

before Harrison's clock there was no

there's no way to calculate longitude

before longitude we didn't know where we

were on the on the sea it was profound

breakthrough in the history of

navigation it was made possible by

Harrison's clock and Harrison's clock

was a a mechanism so pre precise that

you could keep track

of universal time what we what we called

Greenwich meantime now it's UT UT or

universal time and um and once you had a

mechanism precise enough to keep track

of time in Greenwich at the Royal

Observatory you could put it on a ship

and you could you could compare it to a

second clock which kept track of local

time and subtracting the one from the

other and multiplying by 15° per hour

gave you a

longitude so science advances with the

arrival of a certain

instrument until until you have that

instrument for 100,000 years you can't

calculate longitude right until you have

the telescope for 100,000 years you

can't see the mo of moons of Jupiter and

you can't figure out cap laws really

work you just can't you could pause it

but you can't prove before cryptography

and the internet and modern

semiconductors you couldn't create a

Bitcoin be can't if you can't create a

Bitcoin you can't create perfect money

if you don't have perfect money then you

can't actually posit an economy where

the money doesn't deflect where the

money is true when the money becomes

true the money is is the asset which is

used to channel

Capital through time and space right the

essence of Economics is is the proper

allocation of capital and

so so Satoshi gave us a perfect money

the perfect

money made it possible to capture to

store to channel to distribute Capital

to program capital in an eon

e and how profound is that well I mean

the difference between 2% inflation or

2% deflection per year and 0% deflection

or 0% inflation is the difference

between an average life expectancy of 70

and

immortality right we figured out how not

to die right it's pretty profound right

when you think about it like that

perfect what's the difference between

perfect money and imperfect money

perfect money is economic immortality

imperfect money is we all we all have a

short brutal

life right terminated early there's a

time a time when there's a 40% infant

mortality rate between the ages of zero

and five right your kids are going to

die there's a time when the the

likelihood that a woman giving birth

dies in child birth was like

30% right you know before Mo before

science crashed into

medicine you know your children were

more likely than not to die you know

your wife was more likely than not to

die in childbirth if you got her

pregnant three times it was a death

sentence and so you you think about life

before science impinged on medicine

pretty big deal you think about science

impinging upon upon astronomy a pretty

big deal science you know blasting into

navigation right pretty big deal and now

science colliding with

economics pretty big deal yeah it's for

me also fascinating I asked the question

so many times in my podcast like how

does Bitcoin change things like how does

Bitcoin change society on a big uh level

and you'll see also in the

presentation you don't change Bitcoin

Bitcoin changes you and you also say

like Paradigm Shift uh that Bitcoin is

and now also like the it changes the way

we interact with with uh so many things

how how different will be a world when

we look out like 50 100 maybe even like

a thousand years where we have this

sound money on a digital realm uh all of

the sudden this perfect money how

different is world and how how what is

possible on on on that

scale I I think if you you look at uh

economic

creatures the the classic economic

creature in modern society is the

corporation the average life expectancy

of a corporation is something like 10

years you create a company and it lasts

more than 10 years then you've lived

longer than most the number of um of

corporations that are more than a

hundred years

old right what percentage of people Liv

to be more than 100 like

0.1% or 0.01% what percentage of

Corporations love to be more than

100.1% well what if I told you I could

make your company live

forever right it's so how how

profound we're talking about we're

talking about uh eliminating corporate

mortality right we're we're talking

about stretching economic

Vitality easily by a factor of 10 maybe

by a factor of 100 Maybe by a factor of

a million um so you know how will it

change society well it won't change

society uniformally the same everywhere

it's like you know Gibson says uh the

future's already with us but it's not

evenly

distributed right in the modern world

today there are people in New York City

that live in sky scrapers up 80 floors

and there are people that live in Africa

and mud

Huts you know and you can find certain

peoples that are still stuck in

neolithic Stone Age cultures if you look

hard enough and you can find people that

if the electricity was turned off to

their

elevator they

die right and so very very very profound

difference I think um you got to look at

um at Bitcoin is is pure digital Capital

which means it's it's the technology to

capitalize a a family capitalize an

individual capitalize a

corporation capitalize an institution a

charity a nonprofit or uh a country or a

city so or or a university right you

know we we throw away the the word throw

around the word capitalize is a

colloquialism like oh you're going to

capitalize on

that okay but if you think and and

that's because economics has been pseudo

science and capital capital has been

kind of a you know a liberal arts arts

type word if you walked up to people on

the street and said what do you think

capital is and you asked them before

Satoshi or before they said

Bitcoin it's not clear what they would

give you as an answer they would you

know say something about coral Mark said

it was bad or capitalist to do something

with it but it it's such a such a fuzzy

word but in the aftermath of Bitcoin

capital is economic energy and I give

you an asset to store economic energy

and and uh now if I can store economic

energy in a digital

asset I can move the capital potentially

at the speed of light at high frequency

so I can move it through

space right can you actually oscillate

Capital at 10

megahertz you can oscillate you know you

can you can create a a 10 megahertz

signal right 10 kertz signal you could

probably hear right so at certain

frequencies when you're when you're

vibrating uh energy right you get a

result capital's never been uh something

we could work with we could program so

Bitcoin allows you to program and

channel Capital through time and space

and uh in time it you know it means that

we have the hope of addressing things

like Global Payments for for 8 billion

people at the speed of light off of

mobile phones with no intermediary right

so that that's interesting how how do I

actually do a 100 transactions a second

if I'm an AI bot and I want to trip

through cyber space right I mean that's

interesting you won't do that without

digital energy or digital Capital but

the other issue is well how do you

actually send uh a bunch of capital

forward in time 100

years right and there's you can't do it

with gold you can't do it with a

building you can't do it with a share of

stock I mean name a company that's still

in existence from a hundred years ago

off the top of your head where the stock

is worth more today

in real terms than it was

then would be kind of challenging right

so so projecting economic energy through

time and

space has really been more of um of an

aspirational

fantasy right or an art than it was ever

a science or engineering discipline

Bitcoin uh it takes something from the

artistic

and from the religious and from and from

the political domain and it moves it

into the engineering domain where now

there is actually a precise way to move

Capital around to store Capital to

capitalize you know and I guess your

question is how will the world change

profoundly right I mean I can create an

AI that can live in cyberspace

capitalized by Bitcoin that will live

forever that'll have econom IC mortality

that is that is completely uh Sovereign

from a company a person a

country that AI could in theory split

itself you know go viral and spawn 10

million more AIS that are all Sovereign

it's a life form right it's right uh I

could uh end I can endow a a a

university a nonprofit a

foundation with Bitcoin that could

perceiv cons conceivably l a thousand

years without anybody working for it

right I can I can create new types of

entities I can create companies that

don't have a life expectancy of 10 years

and I I can create a company with a

likely life expectancy of a 100 or 500

or a thousand years I can have different

missions I can think differently about

how I capitalize or finance my

country I think think differently about

uh how I build every product and service

could be different right if you think

about products that are around us all

all the time you know life insurance

products or or any kind of annuity

products all of those things right will

be disrupted maybe they'll be

dematerialized right there's a there's

an entire industry that shuffles around

400 trillion of assets so we have $400

trillion doll of 20th century analog

assets that are inefficient that are

toxic that are dilutive and those are

handled by a massive Financial

establishment that's

inefficient right and so you have a very

inefficient establishment handling

inefficient assets trading them back and

forth

inefficiently you could obliterate it

all you could just replace it all with

just I have Bitcoin I hold it I don't

need the EST lishment I I don't need the

bank to hold it I don't need the Wall

Street firm to trade it I don't need to

trade it I don't need to diversify

across like why do I buy the S&P 500

Index why do I have to buy 500 different

companies when I know that most of them

are not even that good or that

successful but I have an

entire entire Financial infrastructure

to to trade and rebalance inferior

assets as a store of

value what if you just obliterate it all

right maybe it all just goes away

so I think the world changes but it

it'll change in every sector in every

part of the world at a different rate

depending upon politics depending upon

leadership depending upon

culture and there'll be profoundly

beautiful things that'll be created that

you could have never created before

there'll be terrifying things that'll be

created that no one conceptualized

before and there'll be parts of the

world where they do it the same way in

50 years they did it 30 years ago I

suppose this also brings me to a

question that I planned before I

um saw your presentation about global

Game Theory right now uh we have in the

US election is already Bitcoin a big

topic with uh Trump uh accepting it

Trump speaking about it EU election I

saw the Austrian view of it uh and I

never heard any word of Bitcoin crypto

or anything of that so in the you it

seems to be a non topic till now at

least like not a public topic like in in

the American elections how do you see

right now the global game the with like

El Salvador as a small country that goes

like bigger steps America making it more

uh um more a topic and then EU India

China uh how do you see the global Game

Theory right now

Bitcoin Insight is restricted to those

with a need to

know love that

Ru when you have a need to

know when you have a crisis if your

country is in crisis if your company is

in crisis if your family is in

crisis when the bank freezes and fails

and the currency crashes and you have a

business or you or you have a life and

you're in that culture you have a need

to know your eyes are open

now you now you start to take Bitcoin

seriously now you adopt

Bitcoin Trump has discovered Bitcoin

Trump has a need to

know right El

Salvador their currency crashed you

know they had a need to

know I think people in in countries like

Lebanon right they don't have a reliable

banking system they have a need to know

um and uh in places where the society is

affluent and the leaders are affluent

and they feel comfortable and they don't

feel threatened or challenged if they're

comfortable in their political um

standing if they're not afraid of being

of being driven out of office they don't

have a need to know if if they're not

insecure about their currency if they're

not insecure about their Banks they

don't have a need to

know right in those cases they'll be the

latest the last to embrace Bitcoin or to

appreciate it because they don't have a

need to know but the world's full of

places that where you do have a need to

know and it's not just places but it's

peoples right the minority out of power

right who are disenfranchised who

disinherited right they used to say

about America right who who settled in

America it was the second Sons it was

the the Second Son settle in America the

first son inherited the Family Estate in

Europe and the second son wasn't going

to inherit anything and so if the second

son wanted property a future hope they

got on a ship they crossed the ocean a

great Peril to themsel because there was

an entire continent where they might

actually get a start and they might have

a chance the second Sons had a need to

know and I think Bitcoin is a great

equalizer in that regard you know the

wealthy a fluent comfortable won't have

a need to know they will be blind to it

and those who are disenfranchised who

are you know who are looking for a

better future they will be they are the

hopeful ones but they're also The

Seekers The

Searchers

right they're they're going to look

they're going to find it they are

finding it hundreds of millions are

finding it they'll embrace it they'll

benefit from it

the rest of the world over time will

Discover it when they have a need to

know and that's why I also love to uh I

think it was the last trule even uh

where we spread Bitcoin with love and

not hate uh because I was also in that

time where like this toxic Maxi like oh

you have to get Bitcoin like you have to

do it but in the last half year year I

kind of transform to like oh if you're

here if if you have questions I'm here

for the community I'm here for everyone

who ask questions and want to learn more

about Bitcoin and I help you uh and that

I love that um rule a lot and how did

you come to to that rule uh to to spread

Bitcoin with love and not hate and also

kind of ties to the other rule with feat

uh not not against fat but for

Bitcoin well um it comes from a a

variety of of different sources my

experience in business business as a

salesperson and and I've had thousands

of sales people that I've worked with or

have worked for me over time I've

noticed the great ones they go and they

offer they offer the customer something

and the customer tells them to get out

they're stupid they're

foolish the product stinks they don't

want it they don't need it right really

good salespeople they smile they so I

understand I'm here I'm here if things

change call me if you need me you know I

understand you don't have a need right

now thank you for your time but here's

my card should s circumstances change

we'll be we'll be there and when when I

was young my first reaction was if the

customer said they didn't want to buy or

they they criticize my product I would

get angry at them and say they're stupid

but if you but if you go to a a big

there's a phrase the customer is always

right if you go to a Big Rich customer

whatever it is you know and and they say

your product stinks and your reactions

well you're too stupid to appreciate it

years will go by they'll you know the

existing thing they're using will break

they will need your

product they don't they won't remember

whether they were mean to you they will

definitely remember if you said

something mean to them so if you

actually got in a fight with them the

first time around then they'll just

remember that you were rude to them

won't call you back they'll go to vendor

b or vendor C or vendor D so it's very

bad game theory you know to tell the

customer they're wrong especially when

they're wrong if the customer is rude to

you you don't get rude back you smile

you take your beating the customer is

always right and you just stay ever

present in a cheerful constructive way

because over time that sales behavior is

the behavior that wins you the customer

and eventually you'll have a lot of

happy customers and they'll all kind of

laugh and and and they'll say yeah you

know Mike I don't remember when did we

first meet and you know and you'll say

well you know the first time we met you

kicked me out and told me I was a

and they're like I don't remember that

at all did I do that I'm sorry I did

that you know like and that's the story

of life with all sales people everywhere

it's like so Think Like A salesperson of

course they don't appreciate what you

have to offer when they first hear about

it because People's Natural reaction is

always to reject the

new you know another experience I have

is just looking at you know behaviors on

social media like Twitter someone posts

uh you know I don't get Bitcoin it seems

stupid to me it's probably bad for the

US or bad for the Euro or bad for China

or bad for whatever you know if your

response is you know your response is

well you're just too stupid to

appreciate it and I hope you never buy

it okay well what you've done is you've

just vented FR frustration it's a

weakness it it sends the message of

immaturity and then the people that are

fans of that person the people that are

followers of them they don't know what

they think one way or the other all they

know is you are mean to someone they

liked so when your favorite

celebrity gets attacked by someone for

not understanding Bitcoin people are

like I don't know about Bitcoin but I

know I like my you know favorite actor

or actress or singer so you alienate

their followers because of your attitude

you don't you know by being angry or

hateful so hate never works you're not

going to change their mind all you're

going to do is swing a bunch of of

observers on the

fence to take the point of view that

you're just irritating and and at some

point they just think well you might be

right but I don't like you so I don't

you know I don't care if you're right I

just don't like you're just not a nice

person and so there's a lot of people in

the world that are neutral and their

view is they just don't want to buy from

a person they don't like whether you're

right or or not what if you understand

sales over time you realize that if you

had a cure for

cancer and the customer was dying of

cancer they still aren't going to buy

The Cure from you unless you're charming

you package it appropriately you knock

on their door 10 times you explain to

them how it's going to save their life

you listen to them yell at you you let

them vent you sit through their temper

tantrums you find them financing for the

cure to cancer you let them disparage

you your dog your family your color

scheme your logo and you come back and

after about the 19th time they'll be

like oh yeah oh you have the C to my

cancer oh okay I'll take that but you

you have to you have to sell it you

can't just think that you know I'm

brilliant I invented the solution so

therefore they should just immediately

acknowledge my Brilliance and take this

gift I gave them that's just not the way

the world works and and if you have that

attitude you're just always going to be

disappointed you you as a salesperson

you would fail right and uh and

so I think I I think we're introducing a

new

idea if someone is open-minded you

introduce the idea if they react

negatively you know you can't disagree

with them head on you can't take a

head-on fight what you can do is perhaps

introduce a different idea a 90 degree

oblike idea you know like I you know I

see you think blah blah this is bad for

one of your constituents but it would be

really good for another one of your

constituents right maybe you hate those

people on Wall Street but this will be

good for the people that you want to

help right you can introduce a new idea

and then you just have to gra gracefully

withdraw and wait for for them to have a

need and you just keep yourself in the

game

right I love it so much because I think

this is the one thing that can actually

everybody can do and we can actually

accelerate Bitcoin adoption uh because

if you are the one like I always do it

like that when someone comes to me with

Bitcoin and they're negative about it

like I'm always um I'm I'm not

responding badly about it I'm just

listening uh and they will come again

because they they see Bitcoin in the

news they see come with Bitcoin and then

they come again and what I'm curious

about and you and this was the one

question that was in my mind when I

heard the presentation um when you said

you don't change Bitcoin Bitcoin changes

you for me it's really um not quite that

because I'm So Young so I got Bitcoin

with 21 so it's like I was I was nobody

with 21 and I got Bitcoin so like just

developed my character uh but with you

you got Bitcoin at a latest stage in

your life so you already had a lot of uh

experience how did Bitcoin change you if

at all

well

first first we

um we were looking for a defensive

strategy right and so my first

experience with Bitcoin was this was a

defensive treasury strategy I could use

to save my

company and um and so I studied enough

to conclude I could I could buy it and I

and so after I did that I real

realized wow there's a lot more to

bitcoin than just digital gold just

making a digital technology

investment and so I started I started

actively researching so one way Bitcoin

change me is it had me go down the

rabbit hole and I started studying

economics Austrian economics right

Bitcoin led me to read Murray rothbard

you know a history of economic thought

and to read conceived in Liberties and

then it led me to go back and read all

of reread all of world history and then

it led me into a thousand podcasts and

then it led me to you know to listen to

to listen to dozens of podcasts you know

on bitcoin development and study the

Bitcoin Wars and then start thinking

about and then it led me to think about

the rest of the crypto industry and then

it led me to to you know go back and

listen to Every Word uttered by Gary

gendler you know in a class he T it in

my teeth two years before I even knew

about I cared about Bitcoin and pretty

soon you're reading you're reading books

you wouldn't expect to read you're

reading every Bill about the crypto

industry going through Congress so it

sucked me into um into uh the state of

being a student again and most of the

time you think once you're past the age

of 20s something you're not a student

anymore right you don't need to be a

student and Bitcoin taught me that I

really needed to go back can relearn

everything I needed to relearn economics

I needed to relearn politics I needed to

relearn you know technology and then I

needed and that led me to go back and

look at my own company again and say

maybe I need to rethink how we're going

to use this and that led us to issuing

convertible bonds to buy Bitcoin and

that led us to thinking about issuing

Equity to buy Bitcoin that led us to

thinking well we really it's not enough

that we learn how to do it we need to

educate other corporations on how to do

it when I discovered Bitcoin or or when

I first bought Bitcoin I was ready to

retire I thought I had you know I had

served more than 30 years as a public

company

CEO I thought you know I have nothing

left to prove in the world you know

there's not much for me to do I'll just

go ahead and retire and gracefully

disappear from

history and

Bitcoin plopped itself into my life and

first teased

me and then seduced

me and then it dragged me on that stage

today right and so I was dragged onto a

world stage and I found myself now

instead of quietly

retiring um I was now drawn into a role

of advocacy such that I would get on a

plane and fly to sollo or fly to uguay

or or fly to Prague or you know or and

and obsess over things that I never need

to obsess over and go back on CNBC or go

on Fox go on television and you know and

or sit down and record thousand hours of

podcast and these are all things that I

discovered late in life I would say I'm

a late bloomer

right like I'm much older than the

average bitcoiner right and and so it's

like how did this all happen I think

it's Bitcoin inspired me maybe inspired

me catalyzed me so it changed how I

spend my time it's you know it it

changed my intellectual interest it

changed our corporate

strategy and it gave me a mission and I

felt compelled to do it right bit

Bitcoin serves us all up a mission if we

listen carefully to what it has to tell

us I love it a lot um from all those

rules 21 rules that you presented at

Bitcoin Prague what is the favorite one

like if you had to pick one and and why

is it

that I mean I think the most important

one is the final one spread Bitcoin with

love right bit Bitcoin is the solution

to eight billion people's problems bit

Bitcoin is

is the transformation of capital from

analog to digital Bitcoin is the

singularity that brings science to

economics Bitcoin is instrumental for

the human race uh to reach its full

potential if we're going to 10x and 100x

or a THX from here we can't do it

without mastering this sort of digital

Capital right without mastering digital

energy and

um and so we need to spread it to the

world whenever something moves

faster than uh then the environment can

adjust we get a phenomenon known as a

shock

wave when I move faster than through air

faster than the rate at which the air

can get out of the way right rate at

which the air moves or the air

communicates with itself is called the

speed of sound it's literally the speed

of sound the reason that the sound moves

that fast that's how fast the air is

carrying it right so when I move faster

than the speed of sound I create a shock

wave when I create a shock wave there's

just Sound and Fury and atomic you know

aonic boom and

turbulence and uh it's very disruptive

it's very

painful right and so bit coin is that

shock wave moving through the

civilization and on one hand we feel

impelled to spread it to share it with

our friends with our family with our

Corporation with our country with our

politicians with our

intellectuals with our leaders we need

to share

it but nobody likes being slammed into

you know at supersonic speed you know

know no that's painful it's a it's the

difference between going below the speed

of sound and going fast than the speed

of sound is the difference between me

you know swinging a baseball bat at your

head while you're looking that

way versus me doing this with a baseball

bat saying you should duck I'm about to

swing it right one of them is

interesting maybe it's entertain p in

and the other is

brutal and so if we're going to do this

we need to do it with love not

hate we can't hate people because they

reject because they resist because they

don't get

it right uh we shouldn't we shouldn't

think you know that um we need to hate

the banks because they don't custody

Bitcoin or hate your government because

they don't Embrace Bitcoin or hate your

boss because the company doesn't buy

Bitcoin right that it's a natural

reaction but it's an immature reaction

what we ought to think is they're going

to need it they don't understand it it's

understandable they don't understand it

it's the most

shocking economic thing that's happened

in their life maybe it's the most

shocking thing to happen in economics in

100,000

years it's a fire

Raging Fire is scary people run from the

fire don't wave the fire in your

sister's face right don't set your

family on

fire right H H have a little bit of

consideration there right with such a

powerful idea so I think the world's a

better place if we spread Bitcoin but I

think we got to do it with love thank

you you already made it halfway through

the video and I'm really really grateful

to have you here two things make this

channel possible possible you as a

watcher and listener who keep supporting

this Channel and another one is all the

Bitcoin brands that I partner up with

like 21 Bitcoin who support me from the

very start and where I personally buy my

Bitcoin from with code Robin you even

get a discount when you buy Bitcoin with

them and now also bitbox bitbox is the

simplest and securest way to secure your

Bitcoin and I heard a crazy statistics

only 2% of bitcoiners hold their Bitcoin

in a hardware wallet how crazy is that

don't be in that 98% bracket be in the

2% bracket and if you have self- custody

and you know your friend does not have

maybe he needs a Christmas present maybe

he needs a birthday present and a small

life hack if you use code Robin you get

5% off your order plus you support my

channel and now let's get back to the

video I also see that approach that uh

you just described you did with micro

strategy and You' explained it uh in a

lot of interviews how you like came up

with like I want to roduce Bitcoin to

micro strategy uh and now you talk about

Bitcoin you invest in Bitcoin and now

with micro strategy orange you also want

to build with Bitcoin um and I asked

before this interview uh online on

Twitter like what is the question for

Michael saor what what should I ask him

there are a lot of responses but one of

the most common ones was like what's the

future of micro strategy and with that

also what's the future of Bitcoin

scaling layer two layer three technology

and and what do we all build on on on

bitcoin well micro strategy is going to

continue uh to raise Capital to buy

Bitcoin we're going to continue to

engage in Bitcoin

advocacy uh efforts to Advocate Bitcoin

institutional adoption for institutional

investors we're going to Advocate

adoption of Bitcoin by companies both

public companies and priv private

companies we're going to work on

advocating and educating organizations

on implementing Bitcoin treasury

strategies we're going to spend a lot of

time advocating to get um all the

financial institutions in the world to

embrace and adopt

Bitcoin we're going to um continue to

develop software we've got great

business intelligence software and

thousands and thousands of very loyal

customers we're enhancing that with

digital intelligence what you'll call AI

so that's an obvious thing for us to do

in our core business but uh we also have

R&D efforts in the in uh the Bitcoin

business where we we focus upon uh

developing applications or integrating

things like lightning to see where we

can how we might provide that sort of

service to

Enterprises and we work on ideas like

Enterprise identity is there a way for

us to combine public private key

cryptography and digital

signatures and the Bitcoin network with

interprise security and cyber

security and and uh and anti- fraud

anti- fishing you know type

software so those are that'll all keep

us busy and uh each one of those things

is something that uh just takes a lot of

time and sensitiv to work

out but that doesn't really address your

second question which is the bigger and

more important question how does Bitcoin

scale and I think uh the answer to that

question is Bitcoin

scales in Myriad ways to say thousands

of ways might be an understatement maybe

tens of thousands hundreds of thousands

millions of ways there are 8 billion

people on the planet and every single

one of them it encounters Bitcoin is

going to think about how they wish to

interact with Bitcoin and they've all

got a different opinion the

three-year-old that that is interested

in Bitcoin will have a different view

than a 15year old will have a different

view than a 20y old a 30y old a 40y old

an 85-year-old in China will have a

different view than a 92-year-old person

in Russia

and they will have a different view than

someone in the United States in their

mid-60s and their views will be

different depending upon your

religion you know whether you know what

your sect is what your profession is

what your physical capabilities are and

so there's going to be a lot of views

there then there's 330 million companies

in the

world and you know a few of them um

there's

Apple when Apple encounters Bitcoin and

they're one of the more important

companies in the world a billion people

rely upon them when Apple encounters

Bitcoin I think they may look at it and

think well wait a minute uh Bitcoin

multi- signature Cloud what if we

actually make the Apple watch a signing

device and combine it with the iPhone

and combine it with the third signing

device on a laptop and then we do

something with the cloud and apple

becomes a bank that has hundreds of

billions of dollars of Assets in it and

we secure that via the Apple

Cloud and I suppose if Apple does that

then Google will take a different view

well we don't want Apple to do that we

want that to be done in

Android and at some point Samsung will

say well wait a minute Samsung phones

are used for Android and we can put the

secure element in that and we'll take a

different View and at some point you're

going to have Qualcomm say well wait a

minute we provide the chips that are

used in these phones and maybe our chip

maybe it ought have a Bitcoin miner in

it or maybe our chip ought to have a

secure element to store your

cryptographic keys so that our chip can

be the right signing

device and then you're G to have all the

Chinese companies and and the Chinese

government will say well you know maybe

we don't want Apple and Google to do

this and we want our companies Huawei to

do this and so you're going to have

you're going to have governments that'll