Odd Lots Michael Saylor, the CEO Who Turned a Software Company Into a Bitcoin Company
Dec 24, 2020
Michael Saylor, CEO of MicroStrategy and a prominent Bitcoin advocate, dives into his company's daring pivot from software to crypto. He discusses why he views Bitcoin as the ultimate reserve asset for firms looking to safeguard wealth. Saylor tackles the limitations of traditional investment options, positions Bitcoin as 'pharmaceutical grade gold,' and emphasizes its liquidity for corporations. He articulates the significance of Bitcoin in modern economics and encourages businesses to rethink financial strategies in light of rising inflation.
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Bitcoin's Liquidity
- Saylor asserts Bitcoin's superior liquidity compared to traditional markets, especially during off-hours.
- He argues Bitcoin's value and liquidity increase with its price, creating a positive feedback loop.
Saylor's Inflation View
- Saylor defines inflation as asset inflation, the rate at which desirable assets appreciate, rather than CPI.
- He claims rampant hyperinflation exists in assets like real estate and stocks, not consumer goods.
Communicating with Investors
- Saylor communicated the Bitcoin strategy to investors, offering a stock buyback option for those disagreeing.
- This move shifted the investor base towards those aligned with the Bitcoin strategy, boosting stock price.