it's been a tough year this week in the crypto world.
Yeah, it feels like a year, right?
At least a tough year is that.
And then they say, oh man, they cannot get enough of all of this.
I mean, they've laid it on thick and have zeroed in on key players in this whole fintech
revolution.
Of course, one of their favorite targets is Michael Sailor.
He's a CEO of Micro Strategies and of course, a big coin evangelist.
And he joins us now.
Michael, I was among the 91,000 people that liked your treat on Monday.
Being in front of the haters with the whole McDonald's thing.
But I know you also have to get annoyed, right?
The avalanche of stories about how many millions you're losing, how the company is going
to go bankrupt.
What are these folks continuing to miss?
Look, Bitcoin's digital property and it's the ultimate risk off asset.
So I think what they're missing is that the entire world is looking for a way to store
their value over the long term.
Look, if you look at Micro Strategies' decision on August 11, 2020 to buy 250 million
worth of Bitcoin, that investments up 149 percent since we did it.
If we put the money in gold or silver, we would have lost 9 to 17 percent.
If we'd invested it in the S&P index, we'd be up 8 percent instead of 149 percent.
If I bought 250 million worth of US homes, I'd be up 28 percent.
Meanwhile, the PPI is up 33 percent in the money supply is expanding.
So there was some scuttle butt about the company maybe having margin calls and things like
that.
That's true.
Yeah, not true.
We had $5 billion of collateral and we borrowed 200 million.
So it was like loaned of value 4 percent.
If you were 10x leverage, you would have borrowed 50 billion against that.
We borrowed 200 million.
It's 1.04 leverage.
It was really nothing.
Just the trolls coming out of their basement to dance.
Let me give you thoughts on the, I'll say the so-called stable coins right after the
implosion of Luna and even Tether going under a buck.
What's going on there?
Look, the crypto crash is illustrated that the entire crypto world consists of three things.
One perfect thing, which is Bitcoin and its digital property.
One, a few imperfect things.
They're stable coins.
The world wants digital dollars.
It's just hard to find them.
They're looking like opaque money market funds.
And then there's a multitude, a whole host of dangerous things.
Altcoins, they're unregistered securities.
And what we saw this week was an altcoin blow up and the world wants stable coins they
can trust.
So Kramer put out something saying that the whole crypto world was a well orchestrated
potenti-pkin village.
Obviously with 12,000 coins, there's some fake ones out there.
There's no doubt about that.
But, should the whole thing, and then let's throw in blockchain, if you will, be considered
this facade of sorts?
Look, I think this entire crypto crash is going to be great for Bitcoin.
It's going to accelerate some much-lead needed regulation of stable coins, altcoins and
the exchanges.
It's eliminating the political deadlock.
It's educating the world and the difference between Bitcoin and security tokens.
And that's going to facilitate the entry of institutions into this space.
I'm kind of worried that there might be too many institutions in it already.
I know there's the notion that institutions come in, they give her credibility, they bring
a lot of money.
But looking at coin bases and earnings and just how little activity now I see from the
retail side, I see a lot of Jenny come lately.
He said, I don't trust, sort of just coming in, jumping on a bandwagon in my mind, maybe
looking for a quick buck.
Are you concerned at all about the flood of institutions, who all of a sudden want to
be part of the game now?
Look, they used to be deniers and skeptics and now they've moved on to trading.
They're either traders or technocrats or maximalists.
The traders are shorting and going long all the time and the technocrats want to buy the
next Amazon.
All the institutions are category, trader or technocrat.
All the people that understand Bitcoin or maximalist, they're here for the long term because
they believe it's an instrument of economic empowerment.
And then there are folks that just want economic empowerment to your point, but economic
freedom and they're not necessarily sophisticated.
But Orlando Bravo had a tweet that kind of made me think about them.
He tweeted last week that money is what people in the free market say it is.
I got to tell you, I agree.
Whether it was YAP money, remember that old YAP stone money or the beads that bought Manhattan?
Will the establishment ever truly get out of the way to let money be what the people
say it is?
I think every week we're making new converts or Orlando Bravo, we're winning over Goldman
Sacks, we're winning over the big banks, we're winning over the Fidelities.
People realize this is a good idea and the basic ideas, the billions of people on the planet
shouldn't have to gamble their life savings in a stock market or some casino in order to
avoid losing all their money.
So why not invest it in a hard, hard money?
Maybe the hardest money the human race has ever invented called Bitcoin and just wait.
Yeah.
Well, I can tell you right now, I've met so many people.
I mean, just people who have no money in the stock market, you know, just, and they're
all are looking at Bitcoin as something that will not only give them salvation, but give
them a chance to compete in a world where they think the stack against them.
So I always appreciate when you stand firm, I love you sensing humor and I appreciate
you coming on, Michael.
Bitcoin is hope, Charles.
It really is.
It's really is.
See you again real soon, my friend.
Next time I'll take a big Mac and some fries, though.
I'll be there.
All right.
See you soon.