Michael Saylor opens with a number that stops most people cold. The U.S. dollar, the most successful currency of the past 100 years, has lost 99.9% of its value over that period. In a recent
Michael Saylor opens with a number that stops most people cold. The U.S. dollar, the most successful currency of the past 100 years, has lost 99.9% of its value over that period.
In a recent interview, Saylor said an acre of land in Miami Beach that cost $10,000 now costs $10 million. That is north of 7% annual collapse, compounded. You start with $1,000 and end with $1. And that, he says, is the best case.
"If that's the best it gets, imagine what it's like when you lose the wars."
Saylor's case for Bitcoin is not built on speculation. It is built on history. Every currency in Africa has collapsed. Brazil. Argentina. Germany, twice. Japan. The pattern is not rare. It is the norm.
And when a currency collapses, everything denominated in it collapses with it, bonds, bank accounts, real estate. The real estate is a derivative of the currency, he argues.
If nobody has money, nobody pays rent, and property loses its value regardless of what it looks like on paper.
Gold and paintings were the Renaissance answer. But you cannot walk through an airport with a lot of gold, he notes. Physical assets are held at the pleasure of someone more powerful than you.
10,000 years of history, he says, thousands of examples of minorities having their property seized because of their race, religion, politics, or wealth.
Bitcoin, in Saylor's framing, is the first asset in human history that removes that vulnerability entirely.
A bank in cyberspace. Controlled by nobody. Owned by nobody. No government can stop it, no politician can interfere with it, no company can corrupt it. Fixed at 21 million coins.
When you need to leave a country, you take it with you. When you trust nobody on earth, you take self-custody. When you die, you can take the private keys with you.
"That is a property right that is absolute and profound and unique in the history of humanity," he said. "You've never had that economic right, not in 100,000 years, not in any place, not at any time."
Bitcoin at $64,940 today is down 48% from its all-time high. Saylor is not watching the price.
Related: Bitcoin has never broken this line in 15 years, it is on it right now
