{"id":641077,"date":"2024-10-14T09:49:32","date_gmt":"2024-10-14T13:49:32","guid":{"rendered":"https:\/\/erickimphotography.com\/blog\/?p=641077"},"modified":"2024-10-14T09:50:16","modified_gmt":"2024-10-14T13:50:16","slug":"michael-saylor-on-bitcoin","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2024\/10\/14\/michael-saylor-on-bitcoin\/","title":{"rendered":"Michael Saylor on Bitcoin"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">10x, 20x, 30x return \u00e2\u20ac\u201d <\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/erickimphotography.com\/blog\/wp-content\/uploads\/2024\/10\/MJS_Bitcoin_Crash_Course.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of MJS_Bitcoin_Crash_Course.\"><\/object><a id=\"wp-block-file--media-1807f886-fecf-4823-9d98-25f5235822e9\" href=\"https:\/\/erickimphotography.com\/blog\/wp-content\/uploads\/2024\/10\/MJS_Bitcoin_Crash_Course.pdf\">MJS_Bitcoin_Crash_Course<\/a><a href=\"https:\/\/erickimphotography.com\/blog\/wp-content\/uploads\/2024\/10\/MJS_Bitcoin_Crash_Course.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-1807f886-fecf-4823-9d98-25f5235822e9\">Download<\/a><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Michael Saylor: Yeah, thank you Gautam. I am delighted to be able to speak with all of you today. I&#8217;m an MIT graduate. I&#8217;m an<br>aeronautical engineer. I started MicroStrategy in 1989. We came public on the NASDAQ in 1998, and I&#8217;ve been with this publicly<br>traded company since then. We built a $500mn enterprise software business, doing business all around the world. And in the<br>year 2020,I found myself leading a low growth Enterprise Software company. We had a $500mn business valued at about<br>1x revenue, and we had $500mn cash. And the question was, do we just pay dividend to the shareholders, or do we buy back<br>our stock? Basically, do we buy back half the market cap or half the stock of the company? Do we go do a risky acquisition,<br>or some merger or transformational deal? But we needed to do something because we were stuck in the doldrums. And the<br>something we decided to do was to purchase Bitcoin, and we saw Bitcoin as a big tech monetary network. I thought, this is like<br>Google for money, or Facebook for money. And if you could buy Amazon, Apple, Facebook or Google stock 10 years before<br>mainstream investors understood it, you would have gotten 10x, 20x or 30x return. And I thought, if we buy Bitcoin 10 years<br>before everybody figures it out, we&#8217;ll get a 10x or 20x return, and it will revive the company. It wasn\u00e2\u20ac\u2122t a difficult decision, because<br>the other option was to get paid 0% interest. The head of Fed at that time said they were not even thinking about raising interest<br>rates for 4 years. So, we were put to a question in 2020, and we felt like it was either a choice between a fast death or a slow<br>death or take a risk. And so we took the risk on Bitcoin, and that&#8217;s how we entered the space. What&#8217;s happened since then is the<br>story I&#8217;m going to share with you next.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>10x, 20x, 30x return \u00e2\u20ac\u201d Michael Saylor: Yeah, thank you Gautam. I am delighted to be able to speak with all of you today. I&#8217;m an MIT graduate. I&#8217;m anaeronautical engineer. I started MicroStrategy in 1989. We came public on the NASDAQ in 1998, and I&#8217;ve been with this publiclytraded company since then. We built [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17],"tags":[],"class_list":["post-641077","post","type-post","status-publish","format-standard","hentry","category-posts"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/641077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/comments?post=641077"}],"version-history":[{"count":3,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/641077\/revisions"}],"predecessor-version":[{"id":641080,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/641077\/revisions\/641080"}],"wp:attachment":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/media?parent=641077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/categories?post=641077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/tags?post=641077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}