In a groundbreaking event, Michael Saylor, the Executive Chairman of MicroStrategy, delivered a captivating Bitcoin masterclass to Fortune 1000 companies at the MicroStrategy World conference. Saylor’s keynote address focused on the potential of Bitcoin to revolutionize corporate finance and enhance balance sheets. He emphasized Bitcoin as the ultimate solution for capital appreciation in an inflationary environment.
During his speech, Saylor explained the concept of the cost of capital, stating that Bitcoin is the only asset that surpasses it. He argued that all other assets are dilutive and not accretive to corporate balance sheets. Saylor drew attention to the S&P 500 as a metric to gauge the expansion of the world’s currency supply and the impact of inflation.
He pointed out the underperformance of silver, gold, and US government bonds compared to Bitcoin. Investing in these traditional assets can destroy shareholder value due to their inability to keep up with the cost of capital. Saylor made it clear that there is no second-best crypto asset, highlighting key differences between Bitcoin and alternative cryptocurrencies like Ethereum. He predicted that Ethereum would be deemed a crypto asset security rather than a commodity, leading to a significant shift in the market.
Addressing concerns about Bitcoin’s energy use, Saylor emphasized the network’s raw digital power and its decentralizing dynamic. He described Bitcoin as being fueled by electricity, with a strong resistance to any attempts to undermine its integrity.
Saylor’s conviction about Bitcoin’s price appreciation and continued monetization was unwavering. He compared Bitcoin to a capital ratchet, always moving in one direction and never declining. Using the metaphor of Archimedes’ lever, he portrayed Bitcoin as the place to stand to move the world.
In his closing remarks, Saylor declared that Bitcoin is the best idea in the digital transformation of capital. He firmly believed that Bitcoin’s time has come and that it is an unstoppable force that cannot be hindered by any earthly power.