Bitcoin Will Create Generational Wealth For Your Family, Corporation Or Country

We're turning now to the crypto world because there's a notion there that Bitcoin is a hedge against the swings and traditional assets

But that seems to be breaking down bringing up a chart year just to show you the volatility over the last couple of months here

Gold has held stable, but Bitcoin has swung quite wildly around it though

The returns are similar in the past month

We're going to talk more about this the rationale all of it with Michael sailor co-founder and executive chairman of micro strategy

The largest public holder public corporate holder of Bitcoin and Michael first I want to ask you in the last couple of days

You did see for a moment there Bitcoin fall below that $50,000 level

I do understand that micro strategy acquired an additional 169 Bitcoin for just over $11 million in July

But when you see that dip below 50,000 do you dive right in and to what degree?

You know

I we're always buying Bitcoin quarter by quarter by quarter. It's a long-term strategy

But the most important point for people to understand is that Bitcoin volatility is a feature

It's not a bug

The volatility creates tens of billions of dollars of credit and liquidity at all times everywhere to everyone in the world in the short term

But over the long term that volatility is driving superior asset performance and durability

So it's volatile because it's functional the other markets are all closed and they're crippled by the physics and the politics of the asset

Isn't it a problem when a store of value if someone wants to use Bitcoin as a store of value?

can

lose 10 or 20% over a couple of trading sessions

The reason it moves is because it's functional. It's digital capital and it's superior to physical capital or financial capital

Bitcoin's a capital investment you can hold for decades that a corporation competitor counter party or a country can't take away from you

So it'll create generation of wealth for your family or corporation or your country

You can liquidate it at any amount any time anywhere in the world or you can hold it for any amount of time without active management or business

Acumen so yeah, it's volatile

But it's so superior to every other option that you have for long-term capital management

That I actually think the world is just waking up to discover this virtue

Michael

I still feel the need to really understand the psychology of these pullbacks because at some point it still matters the price you buy into

Bitcoin ad

How much are you willing to put to work when you see those dips? What types of dips do you look for when you put more money to work in it?

You know, we look at Bitcoin as cyber Manhattan

So there's never a bad time to buy up scarce desirable real estate in the greatest city in North America

There's never a bad time to buy Bitcoin. So we will just generally acquire it

um, you know whenever we have cash whenever we can raise money in the capital markets

Whenever we see the opportunity I think timing the market is

Almost impossible for the mere mortal. It's time in the market that matters

Another question I have for you too is even beyond micro strategy. How do you hold Bitcoin personally?

Do you have a significant personal stack in addition to what you own through micro strategy and a micro strategy stack?

Yeah, I do have significant personal Bitcoin holdings. I think about four years ago

I tweeted that I have 17,732 Bitcoin. I haven't sold any Bitcoin. I can I continue to acquire more Bitcoin and I think it's

Again, it's a it's a great capital investment asset for a individual a family an institution a corporation or a country

And I can't see a better place to put my money. How much do you personally own today?

At least that much

That's a lot 17,000 is a lot

I was talking yesterday

Michael to a young journalist Andrew Chau. He's written a book

Called crypto mania hype hope in the fall of FTX's billion dollar fintech empire

He seems more convinced by a therium and

the proof of stake

Method because he's so concerned about the climate and the environment and a lot of younger people see it this way that proof of work

Just takes too much power and is bad for the world. How do you respond to those concerns?

There are hundreds of thousands of investments that people can make and I don't know behind on any any particular real estate equity or crypto investment

Bitcoin is special because it is literally the most powerful computer network in the world

It's the most powerful. It's got the most electrical power. It's got the most computer power. It's got the most economic power

It's got the most political power

The fact that it runs on 17 gigawatts or more of electricity means it's got more power than the United States Navy

That makes it nation-state resistant and nuclear hardened

So my view is if you're going to put away billions of dollars for decades

You're going to want a very powerful crypto network to defend it and there really is no second best

But it sounds like that much

power generation is going to lead to you know

higher global temperature

Melting ice caps and rising seas like when can it get carbon neutral

That's that's a silly observation people have been saying that for five years

Bitcoin's not boiling the ocean. It's like 10 15 basis points of the world's energy usage

So it's diminimous compared to everything else

30% of the energy in the world is wasted from some other source

So that it's just gorilla marketing and and I think largely irrelevant and and debunked at this point in time

Michael one thing I'm wondering about is have you spoken to former president trump

He's been talking about this idea of what it would look like for the US to have a reserve of Bitcoin

Of course the US wholesome Bitcoin through Bitcoin that has been seized

But what do you think about this broader idea more largely? Have you spoken to the former president about it?

I know you know the future

The future is digital

There's a race to own cyberspace

And we saw we saw an entire set of politicians waking up to this

You know Senator lumis is offered the strategic Bitcoin reserve legislation and that's our Louisiana purchase moment

Donald trump has said we won't sell our Bitcoin

And that makes btc the apex property of the United States the only thing that the nation won't sell or its national parks

It's nuclear weapons and it's Bitcoin

I think that the conversation is shifted and every politician of the world is starting to realize that

Bitcoin's the most desirable property and cyberspace. It's the future

You know back in 2013 Michael when Bitcoin was marching up towards a thousand

We started reporting on it for the first time and I

Actually spent two weeks living only on Bitcoin using it to buy gas and you know beers at a bar down here and groceries at a

Placing green point. I bought my first one for eight hundred dollars my second one for six hundred dollars

And now I wish I hadn't spent them

um

Is there gonna be a time when we actually use Bitcoin as a transactional?

uh, you know

currency without like regretting it so much later on

You know, I think if you if you're a grandfather owned a building in the middle of Manhattan

And they sold it to buy a cup of coffee or some ice cream you would have regretted that too

uh

Half of the wealth in the world is just long-term capital call it four or five hundred trillion dollars

People just want to keep their wealth. They want to hold their money for decades or generations

Bitcoin is

Capital and if you think of it as capital the most desirable capital in cyberspace

Then the right way to consider it is the same way as if your family owned a sports team or trophy asset or a

DaVinci painting or a building or all the land and Palm Beach

You would hold it as long as you possibly could you would finance it and you want to buy a cup of coffee with it

Bar some money from a bank spend dollars spend pesos spend euros

But keep the most desirable property in the universe

All right, Michael. Thanks so much for joining us. Michael's uh

Michael sailor is microstrategy executive chairman and co-founder

He owned at least 17,000 Bitcoin and of course microstrategy always continues to add to its giant Bitcoin pile