Michael Saylor: Bitcoin & Lightning Network Will Transform Businesses and National Cybersecurity, AI

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swannbitcoin.com Natalie Burnell welcome

back to another episode of coin stories

we are at Bitcoin and lightning for

corporations at microstrategy World 2023

in Orlando so grateful to have with me

my most popular guest of course Michael

Saylor executive chairman and founder of

microstrategy Michael thank you so much

for having me here excited to be here

well okay let's talk about Bitcoin for

corporations because you were the first

the first CEO of a publicly listed

company that put Bitcoin on the balance

sheet was it a winning strategy yeah

it's worked out really really well for

us

um

since we started our Enterprise market

value has gone from about 600 million

dollars to more than six billion dollars

so with 10x the Enterprise Value the

company

if we Trace our our performance back uh

to August of 2020 when we adopted a

Bitcoin strategy bitcoin's been the

number one performing asset of all the

possible treasury assets if you contrast

it to the s p index or NASDAQ or gold or

silver or bonds you couldn't have done

better than to have selected uh Bitcoin

and microstrategy stock is actually

outperformed Bitcoin as of just a few

days ago so I think Bitcoin was up like

140 percent

and uh microstrategies up a bit more

than that so I would say it's definitely

been a winning treasury strategy

and maybe more to the point

our choice was we either sit in

sovereign debt we could have held a

bunch of Treasury bonds and and uh they

were yielding one percent two percent

zero percent for a while

right now the 30-year treasury bond is

yielding 3.6 percent

we could have done that

but of course

um that's not really compelling for

public company investors nobody wants to

invest in a company

that's holding tons of cash

or tons of Treasury bonds because from

their point of view

cash cash is never going to outperform

the s p index so they don't expect it to

and they could only they could own

treasury bonds themselves so by us

adopting Bitcoin we were able to tap

into an asset which has been

appreciating it in in excess of 50 for

the past three years

and 50 is better than three percent

but we also

were able to plug our balance sheet into

the crypto economy

and uh and because we plugged into into

Bitcoin that meant that microstrategy as

a stock serves as an Institutional

on-ramp

for other investors and if you're a

hedge fund or you're an investor and you

have billions of dollars and you have a

mandate to invest in securities

you can't buy Bitcoin even if you wanted

to you may not be able to per your

mandate and if you wanted to it might

take you six months to a year to set up

the account and then it's uh you're

investing in a commodity

you know and as you know

um if I bought uh if I bought a

commodity on a crypto exchange it would

be challenging for me to figure out what

the custody situation is

and I can't borrow money to buy it and I

can't borrow against it so easily

so if you're an Institutional Investor

and you wanted uh Bitcoin exposure you

could buy our stock

you could buy it on the NASDAQ through

your broker dealer

you can uh borrow against it you can

borrow to buy it

it's a security not a commodity

and so what would be a 12-month very

very difficult process and very

expensive process becomes maybe a 12

minute or even a 120 second process so

it turned out that it worked out really

well for us as a company

but also it created a compelling

opportunity for all of our investors

and it made us unique in the public

company sphere so yeah been a big

success

well given that there are a lot of

regulatory developments and there's soon

going to be more accounting changes

happening that will probably make it

easier for companies to put Bitcoin on

the balance sheet what's the landscape

that you see because we're here with a

lot of big brand name corporations

people have heard of what will it take

for them to put Bitcoin on on their

balance sheets I think the big

milestones for other big public

companies football Bitcoin on their

balance sheet will be

fasby's adoption of fairer value

accounting

and we're expecting something definitive

there toward the end of this year

that'll be big because that means when

um if you have 100 million in Bitcoin

and it trades up 50 then you'll book a

50 million dollar investment gain

and if it trades down you'll have

investment loss

but it will it will simplify the

accounting clarify the accounting and

allow you to reap investment gains as

well as investment losses and so that'll

be a big deal

I think that um

right now the SEC has an initiative to

bring crypto exchanges into Regulatory

Compliance and I think as those

exchanges start to register with the SEC

that'll be a big deal and a big

milestone forward I think that that'll

Open up The Path and the door for

Bitcoin spot ETFs

and that'll be a big deal

and I think um as we see more guidance

coming from the FDIC and the treasury on

how Banks can custody Bitcoin I think

that'll be a big deal so I think those

Milestones Are all uh ahead of us but

but I think we can expect them all to

come in time and the writing is on the

wall so as each of those takes place

then I think you'll see more and more

corporations adopting Bitcoin as a

treasury asset well talk

Connie from cash app had up where he

explained the lightning Network in a

simple way right before it was the

internet was the base layer the layer on

top was email and it allowed us to

transfer information easily in this open

source protocol and now we have Bitcoin

as the base layer and lightning as that

secondary layer to allow for secure and

fast transactions so for people that

maybe are not as familiar what is the

lightning Network to you and what is

microstrategy's lightning strategy

I think that the lightning Network

represents an open permissionless

protocol for secure transactions

worldwide

so if you want to integrate the payment

networks of a hundred thousand different

companies

in every country on Earth

and uh you want to you want to allow

them all to interoperate and move money

at the speed of light and program the

money and uh and build intelligence in

the transactions and in authentications

then you need some protocol that they

all share and of course lightning is

that protocol

um right now the way that money moves is

on a credit Network run by Banks

so if I wanted to take a hundred dollars

and I wanted to send it to you

I would probably pay a two to three

percent fee

and it would take 45 days to settle

so if that hundred dollars moves 40

times

it'll take about five to six years

and the banks will have all the money

and you'll have none of the money so the

money disappears and it takes six years

to move

and the lightning network is a protocol

that allows the money to move 40 times

in about a minute

and you get to keep the money

so uh what it represents is a technology

breakthrough

but it's not just a technology to move

the money a million times faster and a

million times cheaper but it also is an

open permissionless protocol and that

means a bunch of entrepreneurs in South

Africa can create an application on the

weekend

that works with an application running

in Nigeria that works with a bank

running in Tokyo that works with another

retailer in Istanbul and that'll work

with someone in New York and that'll

work with a hundred Silicon Valley

startups and they all can figure out

how to integrate that protocol into

their mobile app into their website into

their product into their service

and I think the the point Rouhani made

is which is very compelling is without

SMTP there's no way for all the email

systems to interoperate and yet today

everybody can create an email

integration into their application and

that's why billions and billions of

people can talk to each other

lightning represents uh the protocol

that allows billions and billions of

people

to transact with

each other

and clearly

it's got to be instant final settlement

it's got to be programmable

but it can't be proprietary

what we learned is that you know the

proprietary Protocols of digital or IBM

or Microsoft they didn't succeed it was

the open protocols that were available

to everyone in the world and the reason

why is because they're ethical nobody

owns them no one's cashing in on them

and because they're permissionless

they're open to everybody

and that means that people will trust

them and Trust

is incredible it's critical when you

need to get 100 million companies

to work with each other in every country

because at the end of the day

the only thing that everybody can agree

to trust is a protocol that everyone

shares and no one controls and that's

what lightning represents to the future

of money

and I know you've said before that

Bitcoin is the world's biggest and most

important trust Network and talking a

little bit about trust and something

else people are are worried about in the

future as far as open source open Ai and

whether that will truly be something

that is open and censorship resistant

because now people are sending videos

creating deep fakes and they're

wondering did this person actually send

this to me and so I know that you have

some thoughts on how Bitcoin can

actually help verify improve identity

and and allow you to cryptographically

sign for pieces of information so that

the person receiving it on the other end

knows that it can be trusted can you

speak a little bit to that

sure I I think that the promise of of AI

is that this digital intelligence can do

incredibly intricate things as well as

or better than actual human beings

but one of the challenges of it is that

that means that you can spend off a

billion fake AI accounts on Twitter or

YouTube or Facebook that are more

interesting and more engaged than the

actual human beings are that they

replace

and those AIS can pass the captures or

the proof of humanity tests

um and so that means that we can no

longer rely upon free uh free accounts

uh that are not cryptographically

secured or monetarily secured so the

solution

that lightning offers

and the solution that Bitcoin offers is

the idea that someone can create an

identity and they can post a security

deposit say twenty dollars or or some

hundred thousand satoshi's

and then once you posted that deposit

you can cryptographically sign that

credential and then use that credential

as as your verification to cross the

iMessage Network or the Twitter Network

or the YouTube Network or a Microsoft

network or a Facebook Network

and you can integrate those networks

together so you can integrate the blue

checks from all those networks together

you can log in and authenticate as a

real person onto that Network

and uh in many cases

in many cases uh if there is no friction

then you open up the door for uh AI

driven toxicity

if there's no friction for me to comment

on your post and Twitter then 800 000

fake Bots can comment and they can

create any impression they want

so the way to create that friction is uh

to require some minor deposit maybe it's

a micro payment like a 100 satoshi's

maybe it's a deposit of security

the guarantees that you're not going to

launch a phishing attack on me or Cyber

attack on me

so when you introduce that small deposit

let's say ten dollars to move through

cyberspace

it's uh de minimis for a human being

because they post ten dollars of Bitcoin

once in their life

but if I wanted to launch a billion Bots

at you it would cost me 10 billion

dollars to do it so when you create that

little bit of friction you create

consequence and truth and integrity

and cyberspace

and if you um

if you introduce that across all these

social media you can use it to clean up

the fishing and the scamming and the

toxicity

uh and you have this other very

interesting promise of Bitcoin which is

bitcoin's the worst the world's most

secure computer network

so if I wanted

to inscribe a document let's say my last

will and testament

I could inscribe that document and

encrypt it and then place it on the

Bitcoin Network I could I could uh

digitally sign it with my private key

it would be distributed to hundreds of

thousands of nodes around the world

it would be impossible to squeeze off of

the network for a thousand years you

know something will go on for hundreds

or thousands of years

so I'm I'm cryptographically burning it

into the network

and then um I'm guaranteed to be able to

send that message anywhere in the world

because Bitcoin is a nation-state

resistance Cyber Network

if I gave you a hundred billion dollars

and you had four years

and you spent that entire four years

with a hundred billion trying to build

hash power to attack the network

you could somewhat slow down my message

but you couldn't stop my message after

four years and a hundred billion dollars

so Bitcoin is a it's a way to

inscribe truth

forever

it's a way to uh convey truth message it

anywhere

and then finally

a decade after Satoshi mined Bitcoin

Satoshi could prove that they're the

owner of those wallets

by signing a message instantly

and so a hundred years from now or 50

years from now or 20 years from now

someone could prove that they are the

ones that logged that last will and

testament or that document

cryptographically on the Bitcoin Network

and so that makes Bitcoin uh the most

trustworthy

truth Network in the world

and

the promise of AI is I can create

anything I can imagine

and yet the scary terrifying part of AI

is that people can actually create

videos of Michael Saylor saying anything

they want me to say right that sounds

like me

that looks like me

and so the question really will be

in 10 years how will I cryptographically

prove that I said it and then I meant it

and I think that uh in that regard you

can see the real power of a network like

Bitcoin where you can prove you said it

you can prove you own it

obviously one important thing to prove

you own is your money right and that was

the first application of Bitcoin but I

think that the world is waking up to the

benefits of the Bitcoin Network as the

ultimate cyber security network and

cyber truth Network

and uh entrepreneurs are going to start

to see that there are Myriad

applications using Bitcoin and using

lightning

uh to uh to cross integrate truth

Integrity authentication authenticity

uh and many cyber domains

many of them are related to money but

but others are going to be related to

registry or authenticity

uh and integrity and I think the world

needs that more than ever today it's

time for a quick break to hear these

messages from my partners first up

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think it's such an important message

especially given the conversations in

Washington and I think being such a

secure network this is why the U.S

should adopt Bitcoin and embrace it

strategically especially given that

everything is moving in that direction

of cyber control or just cyber data

being put into question with AI and one

analogy that I remember you saying that

I thought was so meaningful especially

for people who are maybe intimidated by

the idea of cryptography is analogizing

it to seals wax seals so hundreds of

years ago you would send a letter and

you would know that it came from the

person because of a wax seal and it

wasn't broken do you want to speak to

that at all just simplifying that this

is the that was the analog version of

cryptography and now we're in the

digital version

sure

if you go to JP Morgan's library in New

York City you'll see that JP Morgan Had

A fascination with ancient seals and he

has a collection of these seals from

thousands and some 3 000 years old and

they're they're little rollers and

and 2500 years ago if you wanted to sign

a document proving that it was authentic

you would um

you would create the document you would

pour a seal and you would seal it with

clay or with wax or something and then

you would roll this roller over it and

that's like your private key and and the

public key was the actual seal that

anyone could authenticate with their

eyes

and of course it's easy to authenticate

It's The Sign of the Wolf

it's very hard to reproduce it because

they're a very intricate little uh

rolling seals

and that's why JP Morgan was fascinated

with it him being the greatest Banker of

the time he's very interested in in the

ceiling authentic documents now public

key private key cryptography you know

was the reinvention of that in a much

more mathematically precise way

thousands of years later and that's the

basis of the Bitcoin Network

partly the first part of it is how do I

seal something with my private key

and the other uh the other part of the

Bitcoin network is in how do I inscribe

that transaction on a decentralized

network that is immutable that is tamper

proof and um

Bitcoin represents that Network today

and the security of that Bitcoin Network

it comes from a number of things one

thing is the highly decentralized nature

of the nodes that store that blockchain

the second thing that secures a network

is

the network of Bitcoin miners

and the Bitcoin miners represent uh

digital power

they are generating

350 exahash

of digital power right now they take raw

energy between 10 and 15 gigabytes of

energy sorry gigawatts of energy and

then they modulated through Shaw 256.

Asics or custom semiconductor chips

custom silicon and when they actually

run the raw electricity through the

custom silicon they convert analog

energy into digital energy or in this

case analog power to digital power

the significance of the digital power is

that that custom silicon is 2 000 times

more efficient

than general purpose CPUs

so the Bitcoin network is the world's

most secure Cyber Network because it is

backed by the greatest amount of digital

power in the world

this custom silicon that is that is

machined and engineered for one purpose

which is to secure uh a messaging

Network

and a Cyber Network so the Bitcoin

mining Network in the world represents

digital power and to the extent that

that Network continues to grow it

creates the most secure computer network

in the world

if I am

obviously if I had one extra hash if I

had won 350th as much of this hash rate

it would be much easier to crack this

network or to interfere or interdict the

transactions but as the hash weight

grows we build a wall of encrypted

energy and and all of the Bitcoin

network is in essence protected by that

wall of encrypted energy and your

ability to send a message uh and and to

transact on the network is protected by

that Shield of digital power

every single year it grows

uh one of the most important things

about that network is to protect it from

an attack from commodity computing power

or commodity

uh analog power you don't want someone

with 10 gigawatts of electricity to be

able to attack you and you don't want

someone with 10 million CPUs to be able

to attack you

and so and so the elegant solution that

Satoshi Came Upon was to combine analog

energy with with customized digital uh

computation

and the result of that is Extreme cyber

security

now um if I think about

National Security and the future of the

country if you have an army you have

land power

and an army will protect you from an

attack via land

if you have a Navy

you have Naval power and Naval power

allows you to keep the sea lanes open

and you can pass a message from New York

to London there was a point at which we

almost lost control of the Navy of the

the oceans during World War II and World

War One

and it would have actually caused the

toppling of especially the British

the British Nation

so Naval power matters a lot

at some point uh during World War II we

realized that air power was going to be

important and the Germans lost control

of the air and

the result was the entire War tipped

against them

if you want to control air power you

need an Air Force

and airplanes have a lot of power in

them and the ability to deliver that

power is what allows you to maintain

control your airspace

if you lose control of your airspace you

get bombed back to the Stone Age

in about two to four days and that

happened during the first Gulf War

where a rock lost control of their

airspace and the U.S won the war very

quickly now later on

um in World War II we realized that

nuclear power mattered and the atomic

bomb was created and and because the U.S

mastered nuclear power first we won the

war in Japan in short order it only took

and added matter of a few weeks for that

war to end

Along Came space

and we started to develop space Power

and satellites and the con the

significance of space Power is if you if

you can put a satellite in orbit you can

create a GPS system in the GPS system

controls uh targeting of Munitions and

and uh those Munitions of course can uh

can almost win any conflict so if you

lose control of space you lose control

of GPS

and of late uh

starlink is Illustrated how important

this is because starlink has provided

Broadband Communications everywhere in

the world off of satellites and those

satellites are and and the Starling

system is being used to control drones

in the Ukraine war

so space Power is really critical

now it seems

that if we look at Future conflicts

future conflicts going to be fought by

drones controlled by satellite

connections cyber attacks they're going

to be fought by robot dogs with guns on

their backs

that with uplinks to satellites

and they're going to be fought by Naval

drones that are sub submarine that are

moving with munitions

it won't be armies it won't be the

airplanes with human operators and what

you can see is that

future conflicts are going to shift to

space Power and drones that are

controlled on the internet and that

means cyber power

and the significance of Bitcoin is is

is Bitcoin is the world's greatest cyber

defense system

if you have to authenticate and prove

and message

any given uh cyber system

you're going to need a system which is

resistant to denial of service attacks

by nation states right

and Bitcoin has proven that it is the

one system that is resistant to denial

of service attacks by nation state which

means that you're going to want a wall

of digital energy or in this case you're

going to want to have the the greatest

amount of digital power

coming from those Bitcoin miners in

order to defend your cyber systems so

that you can defend all of the things

and all the messages that travel over

those systems which are going to control

the future combatants in future Wars so

so you know World War IV will be fought

in cyberspace and perhaps in

in real Space by who knows what

instruments maybe AI driven vehicles

but in that environment Bitcoin is more

important than ever it's time for a

quick break to hear these messages from

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months for 99 oh yeah it makes me think

of that analogy I'm not sure which book

this was in but if you recall the idea

that Bitcoin is this bulletproof massive

powerful Shield but it's guarding

essentially a playground because the at

the end of the day Bitcoin is very

simple and open source at its roots it's

a very simple technology and yet we've

built something incredible around it and

the companies are building incredible

things around it like you mentioned it's

going to empower so many applications I

know your team already cryptographically

signs emails but what else is my current

strategy doing with lightning

you are our

um view of lightning is lightning is a

chance for us to introduce some really

compelling new Enterprise applications

one Enterprise application is Enterprise

rewards for your employees or for your

customers or for your partners so

companies right now spend billions of

dollars rewarding their employees what

if we could give people instant employee

rewards for filling out surveys being at

the meeting engaging uh in corporate

systems updating Community notes

Etc all sorts of micro transactions

um we've uh We've created with

microstrategy lightning

the ability for you to plug a module

into your Enterprise and instantly

generate a lightning wallet for every

one of your employees

if you have 200 000 employees in one

hour you could generate 200 000

lightning wallets or Bitcoin walls then

we convert every Enterprise email

address into a lightning address so

whatever email address you've been using

for the past 20 years now is a lightning

receiver that flows into your lightning

wallet

and uh and now we've integrated all of

the systems that companies use like its

learning system or Community system or

email system or Zoom system

right into that uh lightning rewards

module so that when you show up to your

Zoom you get Satoshi reward and if you

show up on time you get the reward but

if you're five minutes late you don't so

I found whenever I have a meeting uh on

Zoom I make it a point to not be late

because I actually want the Satoshi

reward it's uh it does work you know

even to me it absolutely works I mean

like you just don't want to miss out on

satoshi's

um so we've looked at it as a chance to

drive Employee Engagement and give

employee benefits but we also see it as

a chance to drive customer engagement

because uh companies spend billions of

dollars on digital advertising and they

give it to Google or Facebook or run all

sorts of other ads and the idea of the

ad is I spend a lot of money to put a

banner ad to get people to click so that

they'll fill out a survey or so they'll

sign up for an account

well why not just give the money

directly to the customer or directly to

the prospect

so one of the nice things about

um what we're doing with Mike strategy

lightning is let's say you're Amazon and

you have 150 million accounts

you can also plug that into your

directory and generate 150 million

Bitcoin wallets and you can convert

every Amazon account login into a

lightning address

so now I could just send to you at your

Amazon address what whatever that is

that becomes a lightning address and

then of course if you fill out a book

review Amazon can give you satoshi's and

if you fill out a survey applying for

Amazon credit card then give you

satoshi's and if you get approved they

can give you more satoshi's and if you

fill out

um you know uh some kind of uh product

review and it gets 100 upvotes they can

give you a hundred X more satoshi's so

it's a way to reward customers it's a

way to attract prospects

it's a way to gamify and make fun things

and um and so and it's a way to enhance

a product

by uh by putting this long tail of

satoshi's and and building it into your

product so you don't just have a

one-time integration or interaction with

your customer You've Got A continuing

monetary relationship with the customer

and the thing that makes it all possible

is microtransactions and streaming

via the lightning Network

because we can do this in a second we

can do it for a 30th of a penny

and um

of course we've integrated it with um

all of the tools Enterprises use like

JavaScript

and they can use all their existing

applications they can use their sales

force apps their Adobe apps uh their

Microsoft Office apps we've integrated

it with their directories at scale and

so the goal of microstrategy is we're

going to give our thousands and

thousands of Enterprise customers

a module so they can safely and securely

deploy all sorts of compelling monetary

applications to their employees

customers partners and Prospects

so that they can make their products and

services better and Delight their user

base and critical for corporations is

building on that ethical and compliant

base layer which is obviously Bitcoin

where I want to wrap up is I think that

there's going to be some developments on

the regulatory front that bring more

clarity and it's all going to be good

for Bitcoin right as things are

recognized as Securities Bitcoin is

going to be where a lot of capital

potentially moves now is Bitcoin ready

for that is Bitcoin ready for a deluge

of people coming from stable coins or

different crypto platforms and all

piling into Bitcoin as the safety asset

and what will that mean for the network

I think the good news there is Bitcoin

is ready for it

um in order to be the open

permissionless

ethical protocol for for monetary

transactions on a global basis you need

to be a commodity an asset without an

issuer

and that's what Bitcoin is uh do the

legacy of Satoshi

but if you want to be technically sound

you need to be in extremely well

engineered decentralized protocol and so

Bitcoin Bitcoin is extraordinarily well

engineered uh with uh with that stable

block size capped at the four

megabytes at um the 10 minute block uh

block frequency has proven to be very

stable

the extremely decentralized node Network

and and the extremely uh well-developed

Bitcoin mining Network

creates um a very very stable sound base

to run a digital monetary network uh 20

billion dollars or more has been

invested just in the hardware that runs

the Bitcoin mining Network and it has

had 14 years to diffuse uh to mature

it's gone through its Growing Pains the

block size wars were important Growing

Pains

all of the generations of Asic miners

you know from the you know from first to

CPUs then gpus then the early A6 then

the second generation and the third

generation now the fourth generation and

or more all of those things were

important to making it the technically

sound base and then finally you need the

economically sound basis for the global

monetary Network and the economically

sound basis was delivered to us via

satoshi's protocol when Satoshi capped

the the amount of Bitcoin at 21 million

and gave us this beautiful having

protocol of cutting the block rewards in

half every four years

right and that that that last piece uh

can't be understated

because you can theoretically create a

digital commodity

a doge coin if it was theoretically

decentralized or some other uh

cryptocurrency but if you don't cap it

at 21 million

and if you're not sure that it's truly

decentralized then no one can ever break

that cap

what you've got is a digital commodity

which is going to increase in Supply

from time to time like Dogecoin

increases in Supply you don't have

digital scarcity

and um a digital commodity is better

than an analog commodity I would rather

have a billion dollars of a digital oil

than a billion dollars of oil

but a digital scarcity is better than a

digital commodity because what I'd

really rather have is something I I

don't want digital gold I want digital

gold when you can't make any more gold

ever

right and that's and gold isn't that you

can find infinite gold in the universe

so I want something which is not digital

gold I want a digital number

sequentially numbered 21 million gold

coins and no more forever

so

I I don't think anybody could in the

first 12 months of Bitcoin say we're

sure it's ready

but I think that after years and years

and after 14 years of seasoning

we now have enough experience to say

yeah it start the test of time

it is ethically sound

it is technically sound

and it is economically sound and uh that

Bitcoin base layer

is at this point robust enough to hold

10 trillion dollars of monetary energy

or a hundred trillion dollars of

monetary energy or 500 trillion dollars

of monetary energy and and

um we have cracked the code on that

that's going to work well

all of the interesting uh developments

is now going to take place on the layer

twos and the layer threes and there's

going to be an explosion of interest in

protocols the most successful of course

right now is a lightning protocol and we

think the lightning protocol is going to

be

the dominant layer 2 protocol but it's

not impossible to create either Layer

Two protocols that are open and

and uh some other some other open source

developers will probably work on that

and then the layer 3 applications

like cash app like strike like

microstrategy

you know uh like all the crypto

exchanges they're going to continue to

develop and they're going to

interoperate and I think that the

functionality the speed the performance

the world needs will come will find its

way onto layer 2 and layer threes

the integrity and the robustness

and the fault tolerance

and the immutability that will come on

the layer one

and um and the world is uh is now

getting it's waking up uh to the real

promise of Bitcoin

in a way that uh it never has before and

the next 10 years should be a lot more

exciting than the last 10 years right

that's right Bitcoin up 7 or so this

year Regional Banks down 30 percent and

as there's more demand for Bitcoin more

adoption more lightning nodes will

happen more channels will open up and

that will facilitate all of that

activity Michael thank you so much for

hosting us uh for having me at this

conference I'm always super grateful and

one thing I have to I have to commend

you on is everyone that I meet at

microstrategy is not only very very

smart and obviously successful and

driven but so kind so kind so nice and

uh humble and I just I really appreciate

your team so thank you for joining me

and uh I'll see you very soon thank you

thank you so much for checking out this

episode of coin stories again hit like

on the video and make sure that you have

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out on any new episodes and I would love

to hear from you if you have suggestions

feedback guest requests please email me

at Natalie talkingbitcoin.com thanks so

much