MicroStrategy CEO Michael Saylor on his expectations for bitcoin's trajectory

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“There’s a $500 trillion monetary planet and the outer layer is currency, then you got stocks, bonds, real estate,”  MicroStrategy CEO Michael Saylor told CNBC’s “Squawk Box” Tuesday. “There’s $10 trillion dollars worth of gold in there, $1 trillion in bitcoin. The bitcoin is going to flip gold and it’s going to subsume the entire gold market cap. Then it’s going to subsume negative yielding sovereign debt and other monetary indexes until it grows to $100 trillion dollars.” Subscribe to CNBC PRO for access to investor and analyst insights on bitcoin and more: https://cnb.cx/2BT2E7y

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Comments

Guy 1924 says:

The generational divide has been manufactured so that you won’t listen to ‘boomers.’ Breaking the cycle of wisdom will make subsequent generations easier to control.

Jan Tichy says:

https://http://tiny.cc/Moneyyyy still better

BMW Repair Crew says:

Sorkin there to lick the boots of his handlers. He has not clue what cyrpto is, and we aren’t even talking DeFi

OXPAHNA KOMPROMAT KOHTPOL says:

Alan Greenspan, in his seminal 1960s essay Gold and Economic Freedom (originally published in Ayn Rand's collection of essays, Capitalism: The Unknown Ideal), outlines 4 of the essential qualities of money. First, the medium of exchange should be durable. Second, the medium of exchange must be a commodity; metal is generally chosen because it is homogeneous and divisible. Third, the medium of exchange must have a high unit value, allowing the owner to transport a substantial amount of wealth easily. And finally, the item chosen as money must be a luxury. While bitcoin is both durable and homogenous/divisible, it is emphatically not a commodity, nor is it a luxury – nor can it ever be. In the age-old free market competition for what is the most acceptable form of money, bitcoin has not displaced gold nor is it likely ever to. Hundreds – perhaps even thousands – of free market participants have raised the challenge to gold over the millennia. To date, all have been vanquished.

One might argue that horses were the preeminent form of human transportation for millennia as well…but have since been supplanted by motor cars, and thus too can gold be supplanted by bitcoin or digital currencies. The problem with that argument is that while motor cars meet and exceed all requirements for personal transportation and have much more utility than horses for comfortable travel, digital currencies can never be considered luxuries in and of themselves, separate and apart from their purchasing power.

But gold has always been a luxury, prized for its beauty and ornamental qualities. Likewise, while gold is immutable, dozens of new digital currencies are willed into existence each and every month – with as much backing as fiat currencies. While bitcoin can never replace gold as the one true money (despite its earnest attempts to mimic gold by pretending that additional bitcoin is created through a process called "mining", and facsimiles of faux bitcoin being hawked on EBay et al. depicting bitcoin as a precious gold-colored coin), I wholeheartedly agree that bitcoin continues to be a fantastic medium for speculation, given its tendency to go up and down the valuation elevator at a breathtaking clip. However, that unstable movement, while ideal for those looking to spend some time at the casino, is not nearly as desirable for those looking for a stable store of value.

If you have yet to read Greenspan's essay, you can find a free copy here:

http://www.altavra.com/docs/thirdparty/gold-and-economic-freedom-alan-greenspan.pdf?__cf_chl_jschl_tk__=38f49959a283ccec0091bea85a4c671e7966e978-1614113337-0-AebZnWZdv6KVaX0DgQ3fkx-QbgCSNpjK6qkO32mZUz_zX6ZKZNSTC-xId-LfoLn-_AWIE-wSOMOavMF2dbcar30U7dumXW9leilvuhnv6aL6DOsgvl5IFFxrgLz6LLnhqlfFhPSsk1CzdbKqO7-EleNdIwsXeFaaFTmcBvKnT1Bai-fKgmtCmWJzGvBkXgISkgVWpGYPQuSsaLwvdppVcXlToIKp1kT0pRqb2Z6Iak-BH1cpkYR_Fx49jPJUzyo_DXcRJMlth3hpnfPxVDIyp8EaDKksmNaTzeXQ0H4rYll14PbHK2Q3chH-o9tTWcRbUaiAZVgK25bxGM9x381qJPBSPi3OfoaSbijIgBEMFJqSj4iqCl3ejy37euwfFrPvZA

OXPAHNA KOMPROMAT KOHTPOL says:

Michael Saylor needs to lay off the methamphetamine.

LayeJW says:

Turn that stupid sound offfff.

Wesley Williams says:

Buy the dip. Remember there are 100,000,000 sathoshis in one bitcoin. Yow.

Francisco Bizzaro says:

Michael Saylor has the correct perspective. I wish BTC fanboys would listen to him

Nick Peterson says:

when he said 100 trillion i jizzed in my pants…sad i didn't buy in 5 years ago, happy i'm buying in in 2021 (and happy that i can afford to buy in)

John Cedrick Jaramillos says:

Its a opportunity to buy more from the dip

John Jordan says:

Powell is thinking about thinking about buying Bitcoin.

John Jordan says:

Saylor should debate Schiff!

49ers5xchamps says:

OMG! Saylor looked so annoyed with these questions. LOL He looked like his head was going to explode. Taking deep breaths……….lol

Foxxtrott1100 says:

People buy Bitcoin hoping it goes up in value.? So if fiat is so bad why price it in Dollars. Bitcoin has no intrinsic value, it comes from A number 1. The Greenback… All these Bitcoin shills talk out both sides of their mouth.

Supply and demand drive prices / inflation not the amount of printed paper. That said money velocity does play a role as well, but so far there is no money tree for the public, just the government and banks.

CNBC should interview me instead.

awodrig says:

Its almost about that time of the year where b!t coin gets to sky rocket, so many people are ignorant, they are staying on the sideline, waiting for a move up and the right time to get in. I suspect that the rise will happen in a very short period of time, leaving those waiters behind and their reaction will push the price even higher, so that they will end up under water when btc is consolidating. I know the price will speed up more, then bleed off and have an extended winter and actually go lower than current lows. Then as it goes higher, All we need to do is invest what we are holding and make more profits so we don’t feel the lost in fall of price when it happens again. I discovered a comment of someone giving accolades to a Madison Jones and also thanking her for helping him to increase his Portfolio from having 1.8BTC to 4.8BTC. I contacted her and behold I have made 3.7Btc in less than two month with her working s tra teg!es and s!gn als. If you have lost so much during fall or want to increase your portfolio like me, you could reach out to her on Եҽlҽցɾαต {madison_jones} and on ահαեsαթթ +4 4 7 4 0 3 3 8 2 1 9 7 and thank me later.

Médéric Duplessis says:

Dude’s a clown gambling with inestors money

Eddie Gri says:

The certainty of this guy is the only UNCertain thing i can take away. NOBODY knows what the markets will do, yet this GUY KNOWS . = Red Flag for me .

Carl Douglas says:

get rid of joe

Hoon Ahn says:

What if fed bans all crypto transaction with dollar currency? And EU follows it next?

Dtrain72 says:

These CNBC folks don’t know what Bitcoin is or does.

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