On Bitcoin – Michael Saylor, Chairman & CEO, MicroStrategy

The Bob Johnston Podcast

One of the major seismic shifts in the markets since last Summer has been the increasing (and massive) adoption of Bitcoin by financial institutions, corporations, family offices, and retail investors (i.e. you and me).

My guest today is Michael Saylor, Chairman & CEO of MicroStrategy. MicroStrategy has purchased more than $2Bn in Bitcoin since last Summer, using both cash and sales of convertible debt. As of today, it’s worth close to $5Bn.

Michael and I do a deep dive around Bitcoin on a number of fronts – his framework for Bitcoin as a store of value for your corporate Treasury, how it’s fared versus other assets (hint: it’s crushing them), time of entry and cost of entry into a position, allocation size…and a lot more.

We also hit on market size and where it’s potentially headed, whether to buy through a fund or buy Bitcoin directly, and a super deep dive on the dynamics that are driving price and the growth of Bitcoin network.

Finally, we talk about the overfixation on whether we’re in a Bitcoin “bull cycle” or not, why big banks will likely support Bitcoin, what’s in it for payment platforms such as Google Pay and ApplePay, and Bitcoin as the apex monetary asset as well as the first digital monetary network.

My favorite quotes:

"Bitcoin has a 10-year compounded growth of 199%, gold 1.8%, S&P 11%, and NASDAQ." – On why Bitcoin is a proven Treasury reserve asset

"Will the war between Google, Apple and Facebook be won by which platform stores your photos the best? Or which stores your money the best?" – On why Bitcoin is a material competitive advantage for big tech companies
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