Michael Saylor – The Physics of Bitcoin (#110)

Michael J. Saylor is an American entrepreneur and business
executive, who co-founded & leads MicroStrategy, a company that
provides business intelligence, mobile software, and cloud-based
services. Saylor, an MIT trained engineer, authored the 2012 book
The Mobile Wave: How Mobile Intelligence Will Change Everything. He
is also the sole trustee of Saylor Academy ( www.saylor.org ),
a provider of free online education. As of 2016, Saylor has been
granted 31 patents and has 9 additional applications under review.
We covered a ton of content in this interview including ‘the
physics of money’, the purpose of wealth, and Michael’s philosophy
of life. You won’t want to miss his philosophy of life. To get
them, please join my mailing list; just click here
http://briankeating.com/mailing_list.php On MicroStrategy’s
quarterly earnings conference call in July 2020, Saylor announced
his intention for MicroStrategy to explore purchasing Bitcoin,
gold, or other alternative assets instead of holding cash. The
following month, MicroStrategy used $250 million from its cash
stockpile to purchase 21,454 Bitcoin. MicroStrategy added $175
million of Bitcoin to its holdings in September 2020 and another
$50 million in early December 2020. On December 11, 2020,
MicroStrategy announced that it had sold $650 million in
convertible senior notes, taking on debt to increase its Bitcoin
holdings to over $1 billion worth. On December 21, 2020
MicroStrategy announced their total holdings include 70,470
bitcoins purchased for $1.125 billion at an average price of
$15,964 per bitcoin. Saylor, who controls 70% of MicroStrategy’s
shares, dismissed concerns by observers that the move is turning
MicroStrategy into a Bitcoin investment firm or exchange-traded
fund (ETF). In 1999, Saylor established The Saylor Foundation
(later named Saylor Academy), of which he is the sole trustee. To
support his goal of making free education available to all
students, Saylor.org was launched in 2008 as the free education
initiative of The Saylor Foundation. The site now offers roughly
100 college courses that are supported by free content from
universities including MIT and Carnegie Mellon University, that
students can access without having to pass through an admissions
process 00:00:00 Introduction 00:04:00 The story of the book cover
00:07:35 What’s the next (6th?) technology wave? 00:10:55 The next
megatrend: Virtualization 00:18:17 Why are there ridges on coins?
00:19:36 Where gold comes from, and can virtual currencies replace
real ones? 00:22:22 Why gold as a currency standar? And what sets
the price of oil? 00:36:20 Why is blockchain is so great now?
00:40:27 The Pandemic as a catalyst. 00:40:57 Risk management in
science and all things.   Join My Mailing List
(briankeating.com) to hear his answers to the Thrilling Three
Questions What is in his ethical will? What would he put on your
billion-year monument? What advice would he give to himself as a
20-year-old to have the courage to go ‘Into the Impossible’?  
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