"Fix the Money, Fix the World" — Michael Saylor's Master Plan (plus questions on Quantum and Ethereum)
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What is the main topic discussed in this episode?
the light at the end of the tunnel is becoming clearer and it's actually getting very simpler.
What is Michael Saylor's $21 million Bitcoin thesis?
And so here's the very simple idea, right? How do you make the world a better place? You provide a utilitarian value, something valuable to a billion people that everybody just agrees on.
What needs to happen for Bitcoin to reach $21 million?
With Rockefeller, it's like kerosene gasoline and everybody just lives a better life. And then with Ford, it was an automobile. And who doesn't want an automobile? And then Jobs gave a billion people an iPhone. So what is the equivalent in the digital asset space? And the answer is everybody would just like a bank account that pays them more than the inflation rate. Like, how about give me a bank account that pays me 8%. Right now, your bank pays you zero. You know, what we say tongue-in-cheek is fix the money.
Why did STRC become Strategy’s breakout product?
We have a chance, in my opinion, to fix the money for a billion people. not complicated, just requires that one not get distracted.
Michael Saylor, welcome to Bankless for the first time. Hey, happy to be here. All right, I'm going to start with the big question that everyone's wondering is, where do you believe the price of Bitcoin will go?
How is a Bitcoin-backed money market structured?
Well, you know, I think it's going up. Like I've said, I've got a 21-year view. And my 21-year view is that over the course of 21 years, it's going to average about 29% ARR. It's going to decelerate. It's been growing a bit faster and it will decelerate to grow a bit slower. I think the past five years, it's like a 37% annualized growth rate. So if it moves from 37% down to 20%, you'll get some blended rate, you'll get a blended volatility. And I think, where are we right now? I think it's oversold. So I would expect that Bitcoin will be much higher by the end of the year. than it is right now. But you know, Bitcoin has a way of making fools of all of us when we try to forecast its 12 week move or 24 or two week move.
It's a bit above my pay grade. So long term, I am bullish. Near term, I'm also bullish. And in the intermediate frame, I'm sure there'll be a lot of unexpected surprises due to unexpected developments that none of us can anticipate.
Okay, so at that level of growth, like the 20-year time horizon, what price does that get us to for Bitcoin?
Oh, I think eventually it's going to $20 million, $21 million a coin.
What risks does Strategy face in its Bitcoin strategy?
$21 million a coin. Okay, so what's that, like a market cap of like $400 trillion, something like this? $400 trillion.
I think it's going to emerge as the dominant digital capital of the world. What would shake your confidence in that? I haven't seen anything to shake my confidence yet. By definition, Black Swan, something unexpected, unanticipated.
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How does quantum computing pose a risk to Bitcoin?
It's a genuine belief that you shouldn't need permission from an institution to use your money. MetaMask has been around since the beginning of Ethereum, and they carry the same DNA we do. MetaMask was my first wallet. And well, if you haven't opened up the app recently, let me tell you, they've been shipping, creating the one app to finally replace your bank and exchange.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:04
2
What is Michael Saylor's $21 million Bitcoin thesis?
0:04–0:16
3
What needs to happen for Bitcoin to reach $21 million?
0:16–0:47
4
Why did STRC become Strategy’s breakout product?
0:47–1:12
5
How is a Bitcoin-backed money market structured?
1:12–2:30
6
What risks does Strategy face in its Bitcoin strategy?
2:30–3:50
7
How does quantum computing pose a risk to Bitcoin?
3:50–5:19
8
What is Michael Saylor's current perspective on Ethereum?
5:19–1:37:46
Speakers
3 identifiedMore from Bankless
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Arc Mainnet, AI Agents, and Tokenized Markets | Nikhil Chandhok, CTO of Circle
Crypto is Ready for Onchain Options | Nick Forster, CEO of Derive
ROLLUP: Is Altcoin Season Here? | Treasury’s Bond War | Robinhood Chain Mania | OpenAI’s Math Controversy