Michael Saylor

That makes sense. It's a very honest relationship both ways. The guys that want you to fail, they want you to think long term because they want you to fail long term. So you're patient about it. So they're going to make money off you. But the guys that are also pro you, they also want you to be long term, that you're patient with it. And I get that part.

I guess the part that you explained, which was very simple, was... This is something anybody can do. It's duplicatable. I'm not sharing anything with you that's complicated. Rob, can you go to that one slide that he shared about Manhattan, which I think is the best one. If you can go to the one with Manhattan where you're breaking down the different ones that he had. It's right there.

I guess the part that you explained, which was very simple, was... This is something anybody can do. It's duplicatable. I'm not sharing anything with you that's complicated. Rob, can you go to that one slide that he shared about Manhattan, which I think is the best one. If you can go to the one with Manhattan where you're breaking down the different ones that he had. It's right there.

Yeah, this is the one. 1626 Manhattan. Can you zoom in a little bit, Rob, so I can see it? you know, what was it, 60 guilders?

Yeah, this is the one. 1626 Manhattan. Can you zoom in a little bit, Rob, so I can see it? you know, what was it, 60 guilders?

What I'm saying is if you have a chance to buy Manhattan for 60 guilders in 1626, you should buy it. But what I would say, which is deeper, is you could buy Manhattan real estate every decade for 300 years and always pay more than the previous guy paid, and it would still be a good idea. And that's because it's the greatest city in North America.

What I'm saying is if you have a chance to buy Manhattan for 60 guilders in 1626, you should buy it. But what I would say, which is deeper, is you could buy Manhattan real estate every decade for 300 years and always pay more than the previous guy paid, and it would still be a good idea. And that's because it's the greatest city in North America.

Everybody wants to do business there. There's a limited amount of land. It's a perfect rock, limited amount of land. So there's never a bad time to buy Manhattan.

Everybody wants to do business there. There's a limited amount of land. It's a perfect rock, limited amount of land. So there's never a bad time to buy Manhattan.

But even if you look at this, though, Louisiana, we bought it for $15 million. APR, $6.3 million. Payoff, $12 trillion. California, 1848, for $18 million. $7.78 trillion. Alaska for $7.2 million in 1867. Yeah. It's a trillion, 7.8. You're saying Bitcoin is going to be 240 trillion in 21 years.

But even if you look at this, though, Louisiana, we bought it for $15 million. APR, $6.3 million. Payoff, $12 trillion. California, 1848, for $18 million. $7.78 trillion. Alaska for $7.2 million in 1867. Yeah. It's a trillion, 7.8. You're saying Bitcoin is going to be 240 trillion in 21 years.

Yeah.

Yeah.

Yeah. Just very easily the way you say it. It's not a big deal to you.

Yeah. Just very easily the way you say it. It's not a big deal to you.

I mean, the takeaway from that slide is... The key to getting rich is by scarce desirable property. Pay for it with fiat. I mean, how much does a Gilda worth today? Like pay for it with money you printed, borrow the money. We borrowed the money to pay for Alaska. I mean, the country was broke in 1867. We just fought the civil war, but what did we do?

I mean, the takeaway from that slide is... The key to getting rich is by scarce desirable property. Pay for it with fiat. I mean, how much does a Gilda worth today? Like pay for it with money you printed, borrow the money. We borrowed the money to pay for Alaska. I mean, the country was broke in 1867. We just fought the civil war, but what did we do?

This guy Seward had the vision to print a $7.2 million check. Pay off the Russians. And so number one thing, buy the property. Number two thing, hold it for a long time, right? I mean, because it might not feel like much, but when you're compounding over 100 years or 200 years, and so what do all those four have in common? Well, they're all something you would want to hold for more than 100 years.

This guy Seward had the vision to print a $7.2 million check. Pay off the Russians. And so number one thing, buy the property. Number two thing, hold it for a long time, right? I mean, because it might not feel like much, but when you're compounding over 100 years or 200 years, and so what do all those four have in common? Well, they're all something you would want to hold for more than 100 years.

And so what is Bitcoin? Bitcoin is the next frontier. We've already gone as far west as we can go. Now we have to go to cyberspace. I mean, eventually we'll go to outer space, but we're waiting for upgrades and propulsion to go to Mars and the asteroids. But between now and then...