I sat down with Microstrategy CEO Michael Saylor yesterday for a 2 hour conversation.
There were a number of interesting points discussed throughout our time together, but one in particular that appears to have caught people’s attention.
Michael shared his belief that bitcoin and the US dollar will continue to rise in prominence together.
They will both expand their global adoption, while simultaneously becoming more and more valuable to people around the world.
His perspective boiled down to a few key points:
Bitcoin is an excellent store of value today, but it remains difficult to use as a medium of exchange (volatility, user experience, tax treatment, etc).The US dollar is the most sought after currency in the world. If someone is living in a country where their currency is failing, these individuals want the ability to use dollars to settle transactions.Corporations have internal systems that are all centered around using the dollar as the unit of account. It is one thing to purchase bitcoin on a balance sheet, but it is a completely different and more difficult task to change the reserve currency or unit of account for a business, regardless of whether they are public or private.The complete failure of the US dollar would be catastrophic for hundreds of millions, if not billions, of people around the world. The fall of a global reserve currency would be painful and unnecessary.
Each of these points have merit in my opinion.
They are able to stand on their own and make a compelling case for bitcoin and the US dollar to coexist.
But what Michael Saylor said next is the piece that the bitcoin community seems to be most intrigued by.
He explicitly called out a war on gold.
Read what he said again:
“If I had one request from the bitcoin community, my request would be - focus your guns on gold.
Ultimately, gold is being de-monetized.
This is not speculation on the part of Michael Saylor.
You have all the stats.
It has been de-monetized for the past decade.
It doesn’t have a country.
It doesn’t have an army
It doesn’t collect taxes.
