In a keynote address at BTC Prague, MicroStrategy CEO Michael Saylor outlined his vision for Bitcoin as the world's first perfect currency, a profound innovation with the potential to reshape the global economic and political system. Comparing it to historical scientific revolutions, Saylor positioned Bitcoin as a disruptive economic force, ushering in a new era of financial understanding.
Michael Saylor – CEO MicroStrategy
Saylor's presentation resembled a sermon more than a keynote address, reminiscent of a church pastor preaching about salvation. However, unlike a religious leader, Saylor's sermon focused on reaffirming and encouraging listeners to believe in Bitcoin, its autonomy, and its "perfection." In his concluding remarks, he mentioned those who sell Bitcoin:
"Satoshi, please forgive them. They don't know what they're doing."
Saylor introduced a concept he called the “21 rules of Bitcoin.” While acknowledging the subjective nature of these rules, he still considered them guiding principles for understanding and accepting Bitcoin. According to Saylor, those who understand Bitcoin consistently choose to invest in it, while those who don’t tend to criticize it. This Chia highlights a fundamental paradigm shift in which traditional views on money and value are challenged.
1. Those who understand Bitcoin are the buyers. They don't criticize Bitcoin.
2. Everyone opposed Bitcoin before they supported it.
3. You grasp Bitcoin when you realize that you will never fully understand Bitcoin. You will never learn everything about Bitcoin.
4. Bitcoin is supported by chaos.
5. Bitcoin is the only game in the casino where we can all win.
6. Bitcoin won't protect you if you don't wear armor.
7. Bitcoin is the only thing in the universe that you can truly own.
8. Everyone receives Bitcoin at the price they deserve.
9. Only buy Bitcoin with money you don't have to lose.
10. The ticket to escape the matrix is priced in Bitcoin.
11. Details about Bitcoin are limited to those who need to know them.
12. All models will be destroyed.
13. The cure for economic illness is the orange pill.
14. Support Bitcoin but don't oppose fiat.
15. Bitcoin is for everyone.
16. Learn to think in Bitcoin.
17. You cannot change Bitcoin, but the other way around.
18. Laser eyes protect you from endless lies.
19. Respect Bitcoin, or it will make you look like a clown.
20. Do not sell Bitcoin.
21. Spread Bitcoin with love.
One of Saylor's key points is that Bitcoin's intrinsic value is "perfect money," contrasting it with historical and contemporary forms of currency such as seashells, cigarettes, and fiat. He emphasizes that Bitcoin's value lies not in asset appreciation but in the realization of absolute value within a distorted financial landscape. This shift in perspective, like a scientific discovery, forces individuals to break free from conventional thinking and embrace Bitcoin's innovative framework. He reiterates that everyone gets Bitcoin at the price they deserve and addresses the issue of missing out on Bitcoin at $950.
"I got a fair price and I started buying at $9,500, but that's okay, I'll buy it at $95,000, $950,000 and I'll buy it at $8 million."
Saylor also emphasized Bitcoin's unique position as an "economic virus" that will permeate social and technological layers over time. He argued that a proper understanding of Bitcoin requires appreciating its potential and long-term impact on future generations. This perspective demands continuous learning and adaptation, acknowledging that Bitcoin's influence will evolve alongside technological advancements and social structures.
Addressing the inherent volatility and risk of traditional investments, Saylor presented Bitcoin as a hedge against turmoil . He likened Bitcoin to a haven in a world characterized by instability, drawing a historical parallel to the stability of Swiss banks during World War II. This perspective viewed Bitcoin as a resilient asset capable of withstanding and benefiting from global economic upheavals.
“Are you profiting from chaos or preventing it? You can’t stop instability […] Bitcoin is home to chaos – anyone who wants to play in that game can go on to win.”
Saylor further clarifies that Bitcoin represents true ownership in a world where external entities control most assets. He emphasizes Bitcoin's decentralized and secure nature, making it the first asset in human history that individuals can truly own, without relying on intermediaries. This principle of ownership is fundamental to understanding Bitcoin's value proposition. He argues against the notion of investing only what you can afford to lose, instead advocating for investing what you cannot afford to lose in Bitcoin.
“When you say you only invest the amount of money you can afford to lose, you’re making a moral equivalent of gambling and betting against you […] Nobody says just drop the kids off on the school bus and you don’t need me back.”
Finally, Saylor emphasized the importance of spreading Bitcoin acceptance through active participation rather than confrontation. He advocated a compassionate approach to educating others about Bitcoin, highlighting that resistance often stems from a lack of understanding. By promoting Bitcoin with love instead of hate, supporters can foster broader acceptance and accelerate the adoption of this revolutionary technology globally.
Saylor's keynote speech at BTC Prague was a call to embrace the transformative power of Bitcoin. His “21 Bitcoin Rules” is a roadmap for understanding and navigating this new economic model, emphasizing continuous learning, resilience to disruption, and a compassionate approach to spreading the benefits of Bitcoin.
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Minh Anh
According to Cryptoslate
