MicroStrategy’s Executive Chairman, Michael Saylor, recently offered interesting perspectives on Bitcoin’s potential, describing it as a path to “economic immortality.” 

Bitcoin to Eliminate Challenges of Corporate Mortality

Speaking on a podcast with Bitcoin enthusiast Robin Seyr, Saylor shared his thoughts on how the world’s largest digital asset could transform the global economy.

Michael Saylor noted that the average lifespan of a company is around 10 years as most companies do not survive the death of their founder. To overcome corporate mortality, he believes society must evolve. 

#Bitcoin is Economic Immortality.pic.twitter.com/ZtLzUK4kO6

— Michael Saylor (@saylor) June 23, 2024

“If you create a company that lasts more than 10 years, that’s significant. How many companies have existed for over 100 years? We’re talking about making companies live forever,” Saylor stated.

As per Saylor’s explanation, Bitcoin has the power to profoundly change the world. He drew parallels to scientific advancements, noting that the infusion of science has a massive effect in transformation. He said just as science was able to drastically reduce infant and maternal mortality figures, science colliding with economics is a big deal.

 “I can create an AI that lives in cyberspace. I can move Bitcoin through space. Capital has never been programmable before, but with science, Bitcoin allows us to channel capital through time and space. This means we could eventually enable global payments for 8 billion people at the speed of light, directly from a mobile phone, without intermediaries,” he said.

The Global Impact of BTC

Saylor emphasized that Bitcoin represents pure digital capital. It is a revolutionary technology capable of capitalizing on individuals, families, corporations, institutions, and even countries. 

“Perfect money is economic immortality; imperfect money is not,” he stated.

The MicroStrategy Chairman also highlighted the impact of Bitcoin adoption in China, saying, 

“When the Bank of Shanghai rolls out a Bitcoin ETF, providing custody services, it will give access to 1.5 billion people in China.” While it remains uncertain that China will make this pivot, Hong Kong has already floated a spot Bitcoin ETF.

To Saylor, the growing adoption of Bitcoin in China will fuel the price of BTC. 

“People will become wealthy, and it will be difficult to undermine a sovereign nation with ideologies that keep people poor,” he said

Some analysts consider Saylor’s recent vision for Bitcoin to be beyond mere financial gains, given his aggressive accumulation strategy of the coin. They say Saylor portrays Bitcoin as a foundational element for a new era of economic stability and growth.

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Filed under: News - @ June 23, 2024 4:14 pm