Micheal Saylor, CEO of Microstrategy, came up in my radar when I was developing deeper interest in bitcoin (reading this & listening to this). In Aug 2020, Saylor invested $250 million in bitcoins using Microstrategy’s cash in the balance sheet. An investor buying bitcoins is one but a business owner of a publicly listed company making a corporate treasury decision is serious.

1 insight:

  1. Technology has “dematerialized” goods. Google dematerialized books & libraries. Apple did that to the camera, photo album, clock, atlas, music. These goods will never see inflation because the marginal cost for these goods is zero due to the demat.

3 ideas:

  1. The headline inflation published by the government is irrelevant for most people. Inflation depends on the life we live and aspire for. Hyperinflation exists in scarce assets such as real estate in Tokyo, London, New York.
  2. To drive adoption among masses- make it easy & give them a role model
  3. On top of the core Bitcoin network which is the base settlement layer, blocks will get built such as Square & Paypal will solve the problem of buying coffee with bitcoin. Apple could provide the hardware wallet to store bitcoin. “Every time a new consistency joins the bitcoin network, they are going to plug a functionality gap”.

Link: https://www.theinvestorspodcast.com/bitcoin-fundamentals/btc005-bitcoin-michael-saylor-a-masterclass-in-economic-calculation/