Michael Saylor

Can you put up the slide with the Bitcoin strategic reserve and the different plans there that's in that presentation? So, I mean, first of all, it's Senator Lummis, Cynthia Lummis, has put forth a proposal that the United States establish a strategic Bitcoin reserve, and it's a... It's a brilliant idea that she's presented to the Senate.

And I have a slide in my presentation at the very end that actually shows it.

And I have a slide in my presentation at the very end that actually shows it.

Oh, we don't have that one. Just so you know, we don't have that one.

Oh, we don't have that one. Just so you know, we don't have that one.

Okay, well, then I'll just describe it verbally. So that... The geopolitical logic here is simple. It's go where all the money is going to go and buy it first. And so if you knew that everybody was going to move to Manhattan and you could buy 20% of Manhattan in 1650, it would be a good idea.

Okay, well, then I'll just describe it verbally. So that... The geopolitical logic here is simple. It's go where all the money is going to go and buy it first. And so if you knew that everybody was going to move to Manhattan and you could buy 20% of Manhattan in 1650, it would be a good idea.

But maybe more to the point, the British came to the New World and they grabbed the New World and that's what created the British Empire. So... The United States runs the world's reserve currency, but Bitcoin is emerging as the world's reserve capital network if you just want to keep your money forever. And everybody in the world loves that idea. I'd like to just keep my money forever.

But maybe more to the point, the British came to the New World and they grabbed the New World and that's what created the British Empire. So... The United States runs the world's reserve currency, but Bitcoin is emerging as the world's reserve capital network if you just want to keep your money forever. And everybody in the world loves that idea. I'd like to just keep my money forever.

So the smartest thing for the U.S. to do is to buy up as much of that as they can. So you buy a million coin, that's 5% of the network. Buy 4 million coin, you got 20% of the network. Why not buy 20, 25, 30% of the network? If you buy the network, you can buy it for money, which is effectively free. In fact, you could just sell the gold

So the smartest thing for the U.S. to do is to buy up as much of that as they can. So you buy a million coin, that's 5% of the network. Buy 4 million coin, you got 20% of the network. Why not buy 20, 25, 30% of the network? If you buy the network, you can buy it for money, which is effectively free. In fact, you could just sell the gold

swap it to Bitcoin, and then as Bitcoin becomes a $200, $300, $400 trillion asset, you're sitting on anywhere from $40 to $80 trillion gain. And so the logic of this is pretty clear. First of all, All the foreign capital in the world is going to be drawn into the Bitcoin network. So if the United States owns it, then that's like the same as the money coming to the US.

swap it to Bitcoin, and then as Bitcoin becomes a $200, $300, $400 trillion asset, you're sitting on anywhere from $40 to $80 trillion gain. And so the logic of this is pretty clear. First of all, All the foreign capital in the world is going to be drawn into the Bitcoin network. So if the United States owns it, then that's like the same as the money coming to the US.

You're just drawing capital from Russia, from China, from Africa, from South America. It's going to come to the US on the Bitcoin network if the US owns it. The second logic is all the capital from the 20th century is stampeding into the 21st century.

You're just drawing capital from Russia, from China, from Africa, from South America. It's going to come to the US on the Bitcoin network if the US owns it. The second logic is all the capital from the 20th century is stampeding into the 21st century.

So all the money that was invested in crappy bonds and decaying real estate and warehouses falling down and companies that are going out of business, all that money is going to go into the Bitcoin network. So you own the 21st century. And the third idea here is Right now, a lot of people use U.S. sovereign debt as their capital asset, which, as I just pointed out, is minus 5%.

So all the money that was invested in crappy bonds and decaying real estate and warehouses falling down and companies that are going out of business, all that money is going to go into the Bitcoin network. So you own the 21st century. And the third idea here is Right now, a lot of people use U.S. sovereign debt as their capital asset, which, as I just pointed out, is minus 5%.

Every business person knows it's not as good as the S&P index. So if people start to swap out the treasury bonds and they start to buy Bitcoin with it, then you would want to own the Bitcoin because that way you don't have to worry about people replacing the US treasury asset with a Bitcoin asset because the US owns Bitcoin too. So this defends the US reserve currency status.

Every business person knows it's not as good as the S&P index. So if people start to swap out the treasury bonds and they start to buy Bitcoin with it, then you would want to own the Bitcoin because that way you don't have to worry about people replacing the US treasury asset with a Bitcoin asset because the US owns Bitcoin too. So this defends the US reserve currency status.

It defends US economic leadership. It attracts capital from our enemies. It attracts foreign capital. And it actually lays in place a a peaceful, equitable solution to working out our differences with everybody in the world that a business person would appreciate.