“It’s mostly paranoid crypto anarchists that say that.”
The “”Markets with MadisonMicrostrategy Chief Executive Officer Michael Saylor’s ” podcast sparked outrage amongst Bitcoiners.
Shinobi called Shinobi a “spook.” Carvalho confused. Svetski claimed that this will start the next Fork Wars.
Saylor did something wrong. Saylor broke the taboo. He broke the taboo.
I would say it was an “big oof,” A “footgun,” Cartoon where the hero of the story is struck by an anvil.
Adam Simecka’s excerpt from the video.
Saylor thinks you are a paranoid crypto anarchist if you hold your own keys and don't trust the government. 😏 pic.twitter.com/6owj7LzrdM
— Adam Simecka (@AdamSimecka) October 20, 2024
Saylor said it in a way that was paradoxically interesting.
Saylor and his Cyber Hornets has been around for many years. “Grut and the Minions,” Saylor uses his pulpit in order to spew whatever bullish nonsense is popular, but without adding his own words.
Saylor repeated what other people had said. He was the “people’s champion,” The aforementioned “man of plebs,” Even his mundane AI-generated tweets seem to highlight this role by tagging artists with random pseudonyms.
As a result, anger notwithstanding, I must admit that I am undecided at the moment. Svetski may have a romantic view of the situation, but as someone who has lived through the Fork Wars it is too soon to call the wolves.
This time, instead of trying to understand Saylor’s words (for the first time), I actually try.
There are three main ideas here, as far I can see.
- This is a new thesis for how to boost Bitcoin adoption using public markets – Saylor frames the question of self-custody as an issue that can be ameliorated, not one to solve through innovation. He believes that it does not matter how Bitcoin is owned, but only the fact that people do. He prefers the stock exchange, which he wants to use as a large vehicle to buy Bitcoin and sell the exposure.
- This thesis actually might solve the problem of how to fight the crypto market – Bitcoin has a lot of compelling features. “Season 2,” You could have the thought that “co-opt the crypto apparatus” As a way to get retail involved. Saylor wants to use his Bitcoin stocks to achieve this. In his opinion, retail investors will buy Microstrategy or Metaplanet instead of memecoins to chase the beta of Bitcoin.
- The novel idea of convincing the government to use Bitcoin – A world where Bitcoin is the reserve asset for regulated entities seems like one in which draconian laws become less viable. In this scenario, Bitcoin has a direct connection to the U.S. economic system (at least in the form that most politicians are interested). It’s true: “You can’t ban Bitcoin, it will hurt the stock market,” It has a lovely ring.
The commentators might be correct. Saylor seems to have a different set of incentives than the rest of the network. He may be putting his company’s quest for Bitcoin and his own interests above all. At this time, it is worth asking him about his motivations.
Self-custody is, according to some, at the heart of Bitcoin. You can’t trust anyone else but you with your money.
Saylor also believes inflation to be the biggest problem, and that the depreciation of purchasing powers is more important.
It’s possible that this is all a psy-op by the government, that Saylor has been manipulated to claim this.
Microstrategy may work with intelligence services, but intelligence agencies as well as their pension funds will still be looking for a place to put their money. These funds are likely to buy Bitcoin in a hyperbitcoinized environment.
But I have to say, as someone who has never found Saylor very interesting… for now, I’m at least paying attention.
Let’s start with that.
The article below is an overview of the topic. Take. Opinions are solely those of the author and may not reflect BTC Inc.
“This article is not financial advice.”
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Source: bitcoinmagazine.com
