The CEO of Microstrategy did not beat around the bush in his latest interview with Bitcoin Times.
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Untouchable for three years, Michael Saylor ended up making a few detractors.
Gigachad had until now taken care to alternately use the expressions “Digital energy”, “money” and “digital asset” so as not to offend anyone. But the more time passes, the more he insists that bitcoin is above all a store of value, and not a means of payment.
Michael Saylor crossed the Rubicon in Prague last year when he declared that “no one can stop inflation”. For him, bitcoin does not need to replace fiat currency to succeed.
Quite the opposite of the “Austrian” bitcoiners who claim that an absolutely fixed money supply is enough for us all to drive Ferraris.
Go to this article if the subject interests you: Austrian economists are slowing the adoption of bitcoin.
The billionaire believes that “bitcoin is for everyone” and warns against any arrogant exclusion.
“Bitcoin can become a monetary network and an instrument of economic freedom, but the best way to achieve this is to do so gradually and pragmatically, in harmony with political forces. […] For bitcoin to become a currency, it must spread to all corners of the world. To do this, he cannot break down all the doors shouting crypto-anarchy. »
Ossification
Discontent is also palpable among some developers due to its penchant for ossification of code. For example, he declared a few months ago on Stephan Livera's microphone:
“Bitcoin Core developers are here to fix something or make a contribution. It's in their DNA. They are, in a way, the deputies of cyberspace. When a deputy arrives in the capital, he must lay down his law to save you from yourself. But the more laws it makes, the more it paralyzes the economy, until there are so many laws that the entire civilization collapses under its own weight. [Les développeurs] try to stamp their ego on the protocol. They want to pass on to posterity [en introduisant LEUR bip]. »
Saylor added a layer in his interview with BTC Times :
“For those unfamiliar with cypherpunk caution, the abundance of caution borders on paranoia. Bitcoin satellites and fireproof wallets do not resonate with institutional investors. They have an obligation to their customers and don't joke about Citadels or the collapse of civilizations. Preparing for edge cases strengthens the network, but people like Jeff Bezos don't prepare for the zombie apocalypse. »
All this being said, let's not forget that Mr. Saylor is Chairman of a multinational technology company. He knows well that the code will always need maintenance, even innovation:
“Censorship resistance and privacy protection must continue to be improved, but this should not be the main selling point. After all, wealth managers don't contemplate the United States' nuclear arsenal when they consider buying Treasuries. »
Sinking the $100,000
Asked what could motivate more investment from institutions, Mr. Saylor was extremely frank:
“People who manage billions of dollars don't want to invest in cryptocurrency networks that support anarchists. […] We should not talk about censorship resistance, privacy protection and tax evasion. You shouldn't do it. We hate this. »
This brutal honesty aims to remind us that institutional investors will not alienate States. The fact that BlackRock has taken the plunge, however, signals that common ground is possible.
Michael Saylor believes that it would be “would do bitcoin a big favor if we called it a digital asset, rather than a cryptocurrency”.
“As a 'currency', bitcoin not only competes with the Treasury and the Federal Reserve (US Central Bank), it also competes with Apple Pay, Alipay and other services [Visa, Mastercard] which are both faster and cheaper. […] Many institutional investors view bitcoin as a bet on the collapse of civilization. »
“The Lignthing Network is inspiring, but it will not replace Apple or Alipay. What I have just said may offend, but my support is indeed very strong. A successful 'cryptocurrency' would only achieve a market cap equivalent to Square's, but beyond payments lies an ocean of assets worth $300 trillion. »
“What bitcoin does best is store value”
For Saylor, bitcoin should feature alongside multinational bonds, REITs, gold and 30-year Treasuries.
“That’s not the case yet because exchanges don’t make money if people just buy bitcoins and never trade”thereby suggesting that Coinbase is lobbying to keep its casino afloat.
“It is abnormal for exchanges to list thousands of altcoins. It makes no sense to offer 100X leverage. This attracts people who have an addiction for games. The industry can't grow if you kill all your customers with too much leverage. This sets the whole cause back many, many years. »
Hard-core crypto-anarchists don’t want money from institutions. We can hear it. Everyone sees noon at his door. But that money isn't necessarily a bad thing according to Saylor.
“If the value of bitcoin increases tenfold, the early HODLers will all be incredibly rich. They will be able to use their monetary energy to invent things and make the world a better place. »
In short, Michael Saylor is of the opinion that we should not cloak ourselves in virtue by maintaining hopeless crusades.
Who knows, maybe we would still have Whirlpool if the developers of Samourai had been more discreet.
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