No Bitcoin conference would be complete without bullish optimism from Michael Saylor, and MicroStrategy's executive chairman made good on that promise today in Nashville.
Saylor believes that macroeconomic factors have aligned to send Bitcoin to the moon, predicting that Bitcoin's market capitalization will reach $280 trillion by 2045, surpassing categories such as art and gold. That's about a 280x growth from its current market capitalization of more than $1 trillion.
Saylor is believed to personally own more than $1 billion in Bitcoin, and MicroStrategy has built a reputation as the largest holder of Bitcoin, owning more of the asset than any other public company in the world. As of Friday, the company had about 226,000 Bitcoin in its inventory, worth about $15.3 billion.
Addressing hundreds of attendees at this year's annual conference, Saylor's speech attracted about 8,000 attendees. Some people waited more than an hour to watch the famous Bitcoin thinker and hear him increasingly advocate for Bitcoin directly.
“The global economy is struggling because we are relying on imperfect assets and systems to store that capital,” Saylor said, calling Bitcoin “the little orange asset that could. ”
Saylor talks about the “useful lives” of assets ranging from government-backed debt to Ferrari, not lasting long. The famous Bitcoin evangelist compared those assets to digital capital, an innovation he said could last much longer.
“Entropy* is reducing the value of their physical assets,” Saylor said, citing “war, famine and disasters” as other factors harming the value of conventional assets. Castle.
However, Bitcoin stored with a custodial unit could have a useful life of about 1,000 years, Saylor said. Self-hosted Bitcoin could have a useful life of 10,000 years, he added. And Bitcoin governed by artificial intelligence, he said, could last 100,000 years. This perspective helps explain Saylor's sharp turn to Bitcoin just four years ago.
MicroStrategy started buying Bitcoin for its corporate reserves after the pandemic-induced market crash in 2020. And it has never stopped since. The company added about 12,000 Bitcoins to its balance sheet in June, when Bitcoin prices were hovering around $65,000. This purchase represents MicroStrategy's 39th purchase since it first purchased Bitcoin for around $12,000 in August 2020. MicroStrategy's cost price per BTC is around $35,000-$40,000.
Saylor often points to MicroStrategy's stock price as evidence of its success. Year-to-date, the company's stock price has increased 155% to about $1,750, reaching a high of $1,919 in March.
“It will be 48 months on August 10 of this year since we started down this path,” Saylor said, noting that many companies are now trying to copy chipmaker Nvidia. “The irony is that it is easy to copy MicroStrategy. I just gave you the instruction booklet.”
OneMedNet, a publicly traded technology company that provides clinical imaging solutions, actually took a page from Saylor's playbook before he took the stage. The company announced shortly before that it invested $1.8 million from a private placement into Bitcoin.
*Entropy is a concept that measures the degree of chaos and randomness of a system. In thermodynamics, entropy measures the dispersion of energy. In information science, entropy measures the degree of uncertainty in information. In both domains, entropy typically increases over time, indicating dispersion and disorder.
Source: https://tapchibitcoin.io/michael-saylor-du-doan-bitcoin-se-dat-280-nghin-ty-von-hoa-2045.html
