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In this interview, I talk to Michael Saylor, the CEO of Microstrategy. We discuss their Bitcoin purchase, where his conviction with Bitcoin came from, Square buying Bitcoin and the process of adding Bitcoin to a public companies treasury.
05:32 Square BTC Purchase over Ethereum
06:02 Competing Crypto schools of thought
07:35 Empowering populations with cryptocurrency
11:16 Developing countries, currency stability, investment option viability
17:30 Argentinian financial regulations, currency manipulation
20:23 Paradigm shifts incubating new ideas
27:17 Navigating the Bitcoin community
29:45 Supporting BTC developers
33:12 Getting started with Bitcoin; timeline, rationale
40:48 Counterparty/geopolitical/structural risks of gold/commodities
57:00 Sponsored messages
59:00 Choosing your monetary camp / managing technology risks
1:05:11 Maintaining the BTC legacy
1:10:15 Navigating corporate governance, investors
1:27:23 Tax structures related to corporate treasuries, BTC
1:31:16 Lessons learned in BTC acquisition; advice
1:36:22 Non-monetary incentives for supporting BTC
1:41:20 Part 1 closing
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“I realised I’m on a melting ice cube of $500 million worth of money, the purchasing power is dwindling at 10% to 20% a year, I have to do something.”
— Michael Saylor
Date: Thursday 8th October
In August, MicroStrategy made the bold move of purchasing 21,454 Bitcoin to add to their treasury, spending $250 million. In doing so, CEO Michael Saylor stated that he views Bitcoin as a “dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash”.
The next month MicroStrategy announced that they had doubled down on their conviction in Bitcoin and acquired an additional 16,796 Bitcoin, taking their total spend to $425 million. This move sent a clear message to businesses everywhere that Bitcoin is a valuable asset and can be a key part of a company’s treasury.
Following in the footsteps of MicroStrategy, last week Square announced that they too had added Bitcoin to their treasury with the purchase of 4,709 Bitcoin for ~$50 million.
In this interview, I talk to Michael Saylor, the CEO of MicroStrategy. We discuss their Bitcoin purchase, where his conviction in Bitcoin came from, Square buying Bitcoin and the process of adding Bitcoin to a public companies treasury.
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