Bitcoin Represents The Digital Transformation Of The Capital

All right folks, don't look now, but Bitcoin is on fire.

And this time it's with far less fanfare, right?

Not part of the reason I think maybe the boom bust cycle,

the history of cryptocurrency.

But take a look at this.

At the top of that screen, since 2011,

the orange is Bitcoin.

It has been the best performing asset 10 times.

And on the bottom of the chart,

it's been the worst performer three times.

All in all though, I think it's got a hell of a track record.

Now folks are really piling in.

Those Bitcoin spot ETFs, they started really strong.

They kind of fell apart for a moment.

Now they're picking up big time momentum.

This again, after stumbling out the gate,

nice respect that this bandwagon's going to really start

to fill up quickly as Bitcoin breaks through some pivotal

resistance.

You're going to get a whole lot of folks who don't know anything

about cryptocurrency, but want a piece of the action.

Someone who knows everything about it,

micro strategies, executive chairman, Michael Saylor.

You know, Michael, I listen to a podcast that you're on

recently.

I know you do a lot of them, and which I think is great

because you're reaching out to people, real folks out there.

But there's something you said in this that really struck

out, stuck out to me.

And I want to you to listen to it,

but I want the audience to hear it as well.

Let's play it.

Robert asked me on his show, What Is Money?

I had never questioned what is money.

And then we explored it together for many, many hours

and when I finished that exploration, my conclusion was

money is economic energy.

Economic energy.

What does that mean?

Yeah, it is the question of our time, Charles.

And it's a question that I went most of my adult life without

understanding, but economic energy is capital.

Economic energy is wealth.

And so if you think about the wealth in the world is maybe

$900 trillion of it right now, and it's tied up in real estate,

in stocks, in bonds, and currencies, collectibles, et cetera.

The challenge is that that capital is analog capital from the

20th century, and Bitcoin represents the digital transformation

of capital.

And your chart you just showed with those ETFs shows that every day

in the last five days, $481 million is flowing out of the

analog world into the digital world.

And what's going to drive Bitcoin is in essence the conversion

of analog capital to digital capital.

The killer use case is capital preservation and capital

appreciation.

And you know, you know, the name of the show is making money.

That's what everybody wants to do.

And money is capital.

And it's the same podcast you talked about, Rockafeller.

And I guess the barren, some of the so-called Robert Barrens

in general, who in modern times get a bad, you know,

it's a bad thing to be a Robert Barren, right?

But we know they helped to change the course of humanity

for net net for the positive.

But just the implications of what can be done once you convert,

this conversion you're talking about, taking it and going

from the analog wealth, converting it to digital wealth,

how much more it can be a positive for humanity overall?

You know, civilizations they rise or fall based upon the

creation and channeling of energy.

And we think of powers energy delivered in a certain period

of time with a focus.

So it's all about firepower, naval power, air power,

nuclear power, Rockefeller gave us liquid energy in the form of

boil.

Bitcoin is digital property.

It's conveyed by digital power.

Those Bitcoin miners are digital power providers.

And it's the most powerful computer network in the world.

So we see this as profound because there's hundreds of

trillions of dollars of wealth in the analog world.

And there's no doubt it's decaying.

Bonds are losing value because of inflation, real

estates losing value due to just physical decay, stocks lose

value because of competition and product cycles and acts of

God.

And so the people of the world, they're looking for a new idea.

And Bitcoin is this idea of put your money in cyberspace

where it's not going to be affected by weather and war and

supply chains and all of the things that have plagued us in the

20th century.

Now to that end, I know micro strategies is sort of rebranded

itself.

I think it's called now Bitcoin development company.

What exactly does that mean?

And have you moving completely away from the traditional business?

Now we've got a very healthy software business, but we've

now got nearly $10 billion in Bitcoin and we've got a very

large equity market cap.

And we can tap the capital markets as an operating company.

And we can leverage our market cap in order to issue equity,

issue debt, buy back our debt.

We can restructure our capital structures so that our

shareholders get more Bitcoin.

So just like, you know, you want to develop New York City,

you're going to borrow money and you're going to build a

Bitcoin.

You know, what we're doing is we're issuing securities in

order to buy Bitcoin in order to promote the Bitcoin network,

lock up the Bitcoin forever and then build the entire ecosystem.

I got to tell you, I wouldn't bet against you, Michael.

And I think I think a whole lot of folks have learned that

the hard way.

Congratulations.

Always appreciate when you come on the show.

Pearls of Wisdom.

Appreciate it.

Happy to be here.