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trying to launch a monetary Network you need it to be ethically sound it needs to be sound ethics Sound Engineering sound economics the economic policy of Bitcoin is 21 million coins unchanged how much uh of that asset will there be in a 100 years or a thousand years and can anybody change it and what you really want is for nobody to be able to change it and you want you want to know that you're buying 121 1 millionth of all the economic energy in the network what you want is a very distributed Network and you want incentives for every nation state and every type of actor to build massively powerful Centers do you want to trust all your money in a bank run by three people that you know or do you want to trust all your money in a bank that's collectively owned by Humanity where nobody in the human race can possibly hacked the bank there are hundreds of challenges that the human race has pride and ego I did it for my son I did it for my family I did it for my God I did it because I was sent to do it I did it because I was interested I did it was because it was cool there are all these things uh people all have these good ideas and and and these intents that end up going horribly arai and there's million examples of them I don't think that's going away um so I don't think Bitcoin fixes that it won't stop Wars it won't stop governments from collapsing it won't it won't stop Bad Medicine it won't stop bad ideology it won't stop criminal Behavior so it's not the solution to that it's just the solution to bad money here is Michael sailor the chairman and CEO of micro strategy describing Bitcoin as the world's greatest sound money emphasizing its primary objective of countering B B Money in this interview sailor made a profound statement asserting that Bitcoin is the preeminent example of sound money he highlighted its unparalleled characteristics as a reliable store of value and its decentralized nature setting it apart from any other asset even though with recent Market drawdowns linked to the MTG Bitcoin payments and Germany's selloff Bitcoin remains resilient don't miss out on this in-depth analysis like comment and subscribe to our channel to stay updated on market trends and more insightful content your engagement helps our Channel grow and brings you more valuable information on the future of Bitcoin and digital assets thank you and enjoy the video you could think of money as economic energy just like you could think of fat as organic energy you eat a lot you store fat and now if you have to go without food for 2 3 four weeks you're not going to starve to death if you can't form fat cells you're type 1 diabetic a type 1 diabetic can't store organic energy and they dwindle and they will starve to death it's a it's a just horrific disease being able to store fat isn't a bad thing we think it's a bad thing but actually for most of human history right the number one reason you died is you starve to death so so it seems pretty intelligent that when you get excess uh excess energy you can store it and hold it for a while now let's imagine a person as an economic diabetic where do you see that uh in um in a society where the currency is collapsing and hyperinflation the Yar Republic famous example so you work I pay you know in Zimbabwe they had it in Venezuela they had it in Nigeria they're getting it right now you work I give you $100 and the $100 buys you four meals but then in three months it buys you one meal and then in 12 months it buys you one soda and in 24 months it buys you nothing okay so now you've got a problem you can't store economic energy so what happens when when the currency dies or the money dies well the society gets ripped back to Stone Age barter what it means is you can't you can't save anything and also it means that the unit of account breaks down so you can't trade it's like okay you have you have bullets and I have soap how many bars of soap for bullets and how do you figure that out give me a chicken and I'll give you you know a a bottle of water things get very complicated the civilization just gets ripped back to Stone Age barter when that happens all the factories break down like imagine trying to trade with your friend for Dentistry work you know you just be your own dentist try that one be your own doctor take out your appendix so the money breaks down the civilization breaks down that's the danger but normally in most modern societies the money doesn't break down as a medium of Exchange it breaks down as a store of value if if uh you have some money you can't just store the money if you want to keep your economic energy you have to gamble it or invest it you have to speculate with it or you know you worked your entire life you have a certain amount of retirement and now if you store it in the bank it'll be worth nothing so you have to go and invest it in the stock market but if you pick wrong you lose it so we basically force uh we force people to be gamblers speculators or hedge fund managers if the money's broken and the money is broken so what is the significance of Bitcoin well let me say it a different way just you just take your money take everything you earn you buy Bitcoin and you wait and it goes up 20 to 40% a year forever or you take your money and you invest it in a bank account and you get 3% after tax and everything goes up 10 to 15% a year in price and you just get poor and poorer or what are you going to do buy GameStop at the right time are you you know you buy a building run an Airbnb I force you to go and forcing you to be a hedge fund manager is horrifically inefficient for the society it's just as inefficient as saying okay be your own dentist and doctor right I if the if the medical system was broken you have to be your own doctor it's not good for society what happens people die 20 years early is what happens so when you have to be your own Banker or be your own hedge fund manager what happens is you just get poor or you lose faith in the in the future if I told you your money was going to be worthless in 36 months what would you do with it you would spend it what if I told you your money's going to be worthless next Monday you would go out this weekend make a decadence weekend and you would just blow it all you would buy anything things you don't need it's like if it's for sale I'm just buying it so Bitcoin actually solves the problem by saying well what if you just had a money that the government couldn't debase the bank couldn't steal that would last forever Larry think the CEO of Black Rock supports Michael sailor's analysis of bitcoin's use case in a recent CNBC interview think echoed sailor sentiments expressing his belief in Bitcoin once a skeptic think has since become an advocate embracing Bitcoin and acknowledging its potential as you know I was a skeptic yes I you know I was a proud skeptic and I studied it learned about it and I came away saying okay you know my opinion 5 years ago was wrong here's my opinion stated this is what I believe in today I believe the opportunity today I believe Bitcoin is legitimate I'm not trying to say there's not bet misuses like everything else but it is a legitimate Financial instrument that allows you to have maybe uncorrelated non-correlated type of returns I believe it is an instrument that you invest in when you're more frightened though it is an instrument when you believe that Co countries are debasing their currency de debasing their currency by excess deficits and some countries are I believe we have um countries where you're frightened of your everyday existence and have an opportunity to invest in in a a something that is outside your country's uh you know control then you can have more financial control and so I'm a a major believer that there is a role for Bitcoin and in portfolios I believe you're going to see that as an as one of the asset classes that we all look at I look at it as digital gold as I said before and I do believe there's a a there's a there's a real need for everyone to look at it as as one alternative to I would say the optimism that I have in the world if you want to hedge hope Bitcoin is not a an instrument for Hope unless you're hopeful you're going to make a lot of money on it but I I look at it as a vehicle in which you're expressing your your financial Acumen in something that you're more frightened of the world you're more frighten of your existence and I believe there's a great industrial use for it and and I think a lot of people are missing that as Bitcoin rallies Beyond $60,000 after a sharp decline that saw prices drop to $53,000 it becomes clear that Bitcoin is a remarkably resilient asset class many experts predict that it will reach $100,000 by the end of 2024 now let's return to more clips from Michael sailor well if someone came along and launched something that was that was more popular with intelligent people then I guess it wouldn't be working but of course bitcoin's been growing first 200% a year then 100% a year right now it's still uh growing 40 to 50% a year so it's a monetary virus that's spreading and it's it's uh extracting the capital from all other Capital assets right so that the proof that Bitcoin is winning is the performance of Bitcoin is 5X the performance of the S&P index and Bitcoin is outperforming gold outperforming the S&P outperforming every individual stock outperforming bonds outperforming cash outperforming real estate what do you see you see intelligent people with money voting with their money and what they're doing is they're selling the weak assets buying the strong asset and why Bitcoin over ethereum uh if you're trying to launch a monetary Network you need it to be ethically sound it needs to be sound ethic Sound Engineering sound economics the economic policy of Bitcoin is 21 million coins on changed very difficult to change extremely conservative in fact no one ever would ever think you could change the supply which is transparent and even the second order economics the the bandwidth of the network I is the subject of bitter bitter fights the block size Wars was a fight over whether or not the second order scarcity should change and whether the bandwidth should change and as the network gets bigger it it becomes much more conservative economically so now it's it's nearly impossible to change the economic policies of Bitcoin and and if you compare that to ethereum ethereum changed economic policies with every hard fork and so it's changed it half a dozen times and so economically the real question is how much uh of that asset will there be in a 100 years or a thousand years and can anybody change it and what you really want is for nobody to be able to change it and you want you want to know that you're buying 121 millionth of all the economic energy in the network a thousand years from now so all of the hardware all of the semiconductor technology all of the electricity that's being used to secure the network disappears now the network is secured simply by the staking of a token with economic value but you're going to lose More's law because if you have to stay $50 billion of tokens you can't make the $50 billion of tokens worth 500 million and keep the same amount of security over time but you see with uh with Moore's Law and with um a silicon ratchet you can actually create $50 billion of security with $500 million of Hardware over time so so the engineering of Bitcoin plugs you into semiconductor technology to Moors law to electricity and what it what it also does is it creates this this very interesting Dynamic where if you have billions of dollars of Bitcoin in Manhattan your Bitcoin is being defended by Bitcoin mining off of hydroelectric power in Bhutan you might be getting defended the network is defended by a Bitcoin mine running on on uh stranded natural gas in Kazakhstan and so if your B if your money is only defended at a bank in New York and the May of New York wants to seize your money he just takes it what you want is a very distributed Network and you want incentives for every nation state and every type of actor to build massively powerful centers if you see these Bitcoin mining centers they're you know they're 100 megawatt 200 megawatt data centers and you think well what would incentivize someone to build such a massively powerful you know defense mechanism and the answer is somebody's got a dam with water flowing over the dam and no one wants to buy their electricity and so they've decided to build a Bitcoin defense center in order to monetize the running water on their Dam 8,000 miles away so there's there's a genius to that engineering because it's continually expanding continually growing continually becoming more efficient and it anchors the Bitcoin Network into the electrical Network and into the technology network of the world and incentivizes good semiconductor Engineers to be thinking all the time about how to create more efficient defense mechanisms to keep a hacker from hacking the network and that just takes us to the last point which is ethics you know if you want an ethical monetary Network like like do you want to trust all your money in a bank run by three people that you know or do you want to trust all your money in a bank that's collectively owned by Humanity where nobody in the human race can possibly hack the bank Bitcoin is is a system so diffuse that no one entity or person is systemically important or influential right whereas whereas ethereum or any of these other proof of stake protocols if there's a company if there's a Founder if there's an engineering team if you going identify them then they can change it and and the ability to change the network undermines the integrity and the security and the immutability of the network and if you study history is don't trust anybody don't trust yourself right like you could you could say Michael would you rather invest in a network where you control them like no right I'm the weak link right we're all the weak Link at the end of the day so you want to you want to um to put your energy and your support behind a network which transcends any institution that's what secures you that's what makes it you know safe and and economically sound there you have it Michael sailor has shared his analysis on why Bitcoin is crucial for addressing the issues with defective money he also discussed bitcoin's unique characteristics as an immutable store of value that no other digital asset possesses what are your thoughts on Michael sailor's interview and the outlook for Bitcoin how do you feel about Larry Finks evaluation of Bitcoin and the current stance of the Black Rock CEO on bitcoin please subscribe to our
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