pwshub.com

Michael Saylor Says He'll Give Away His Bitcoin—Like Satoshi Nakamoto

Michael Saylor, co-founder and executive chairman of MicroStrategy, wishes to leave his wealth to humanity, following in the footsteps of the pseudonymous Bitcoin creator Satoshi Nakamoto.

In a recent interview with The New Zealand Herald, Saylor reflected on his personal motivation, revealing his goal goes beyond wealth.

“I’m a single guy, I have no children — when I’m gone, I’m gone. Just like Satoshi left a million Bitcoin to the universe, so I’m leaving whatever I’ve got to the civilization,” he said.

In the interview, Saylor described Bitcoin as the future of economics, comparing it to steel and electricity.

“You take away steel and electricity—those are two big ones—take away the electricity, you have no elevator,” he said. “Take away steel, the building falls over.”

Saylor believes Bitcoin offers a similar foundation for the economy, describing it as "clean, silent, programmable, immortal money."

"If you want your company, family, or endowment to last forever, you need to capitalize it with an asset that doesn't degrade," Saylor said during the interview.

In his view, traditional currencies degrade like fragile “economic clay or balsa wood,” while Bitcoin retains value over time.

"The rate of the dollar is 7% a year for 100 years. When you lose 7% of your energy for 100 years, you lose 99.9% of whatever you are," Saylor noted.

He also compared Bitcoin to a battery that never loses its charge, implying how it retains economic energy indefinitely.

The Bitcoin evangelist sees the world’s largest cryptocurrency as “a profound step forward for the human race, because for the first time, economics crosses from being an art to being a science.”

Saylor reflected on the role Bitcoin can play in building the future: “With 8 billion people with crypto steel or economic steel, we can build something much grander in the 21st century than all the 20th-century economists struggling with clay and cotton candy.”

While Saylor acknowledged that Bitcoin is not a solution for every problem, he stressed its importance as a source of economic energy.

“It won’t fly you, it won’t cure your cancer, it won’t make you happy, it won’t solve your mental issue, and it won’t make your children love you.” However, Saylor remarked, "It’s economic energy—it’ll solve half the world’s problems."

Under Saylor’s leadership, MicroStrategy has accumulated 252,200 Bitcoin, worth approximately $16 billion, positioning it as the largest Bitcoin holder among companies.

Earlier this month, Saylor explained MicroStrategy is shifting from a software company to what he calls a "Bitcoin bank" with a potential trillion-dollar valuation by issuing securities backed by Bitcoin.

Although critics have labeled this strategy an "infinite money glitch," Saylor dismissed the characterization in the interview: "It’s not a money glitch—it’s a digital transformation of the capital markets."

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Source: decrypt.co

Related stories
1 month ago - We are one week out from the Fed’s next interest rate decision, and the data is making a strong case for a 25-basis point cut.
4 hours ago - Saylor's support for Bitcoin self-custody highlights tensions between decentralization ideals and institutional control in crypto's future. The post Michael Saylor says he supports Bitcoin self-custody for all amid community outrage...
1 week ago - With nearly $16 billion worth of Bitcoin in the bank, MicroStrategy's Michael Saylor shares big plans ahead for BTC.
6 days ago - A banged up Honda Civic called The Meme Machine traveled across Europe this summer, becoming emblematic of crypto in 2024.
5 days ago - MicroStrategy founder Michael Saylor dismissed criticism over the firm's $16 billion Bitcoin haul, saying it's driving BTC scarcity.
Other stories
21 minutes ago - The on-chain analytics firm Santiment has revealed the potential reason behind the corrections that Dogecoin and Apecoin have faced recently. Dogecoin & Apecoin Are Among Memecoins That Fell Prey To FOMO Recently As explained by Santiment...
22 minutes ago - As Bitcoin (BTC) experiences a minor correction, trading below the critical $66,000 support level after several unsuccessful attempts to breach the $70,000 mark, analysts observe significant technical indicators that may signal future...
22 minutes ago - Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave. ADA price started a downward move below the $0.3500 support level. The price is trading below $0.3550 and...
2 hours ago - XRP price extended losses and tested the $0.5120 zone. The price is now rising and might attempt to clear the $0.5320 resistance zone. XRP price is correcting losses from the $0.5120 zone. The price is now trading below $0.5400 and the...
2 hours ago - Amid the ongoing Bitcoin price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D has highlighted key shifts in the asset’s network fundamentals. This key shift in Bitcoin’s network fundamentals...