If someone is doing his part, that\u2019s Michael Saylor. The MicroStrategy CEO proved that he\u2019s a stand-up guy by sharing the knowledge on a medium-sized podcast that\u2019s usually in Spanish. Saylor went in on the topics du jour and revealed never-before-heard secrets. What does he think about El Salvador? What\u2019s up with the infamous Mining Council? Is MicroStrategy in a vulnerable position? Keep reading for those answers and more.<\/span><\/p>\n

One of Michael Saylor\u2019s first lines is, \u201c<\/span>I think that the next decade it\u2019s going to be all about digital transformation of propertry.<\/span><\/i>\u201d After that, it\u2019s gem after gem.<\/span><\/p>\n

<\/iframe><\/p>\n<h2>What Does Michael Saylor Know About The Venezuela Situation?<\/span><\/h2>\nThe podcast is called \u201c<a class=\"wpg-linkify wpg-tooltip\" title=\"<h3 class="wpg-tooltip-title">Satoshi<\/span><\/h3><div class="wpg-tooltip-content">Satoshi Nakamoto is the founder and creator of bitcoin, the most popular cryptocurrency. The smallest amount of bitcoin (0.00000001) was also named after him, it is called a Satoshi. This tiny amount of bitcoin is one hundred-millionth of a bitcoin. That\u2019s 7 zeros before the number 1! Satoshi Nakamoto is an unknown person or group of people who created bitcoin in 2009. Very little is known about Satoshi. In an online profile he claims to be a Japanese man born in 1975, but all of his software and online conversations are in perfect English.<a href="https:\/\/www.newsbtc.com\/dictionary\/satoshi\/">\u00bb Read more<\/a><\/div>\" href=\"https:\/\/www.newsbtc.com\/dictionary\/satoshi\/\" data-wpel-link=\"internal\">Satoshi<\/a> En Venezuela.\u201d The episode is titled \u201cBitcoin is Hope for Venezuela.\u201d Since that name derives from a Michael Saylor quote, it figures that the first question was a why disguised as a how.<\/span><\/p>\nHow is Bitcoin hope for Venezuela?<\/span><\/p>\n<blockquote>\n\u201cNow you can put your property into a Bitcoin and put the Bitcoin on your mobile device. And I think the reason that that represents hope to the world is, eight billion people are going to be able to afford a mobile device. And 8 billion people can have property on the mobile device. Bitcoin is like a bank in cyberspace run by incorruptible software.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\nThat sounds amazing, but, why is Bitcoin good for Venezuela specifically speaking? <\/span><\/p>\n<blockquote>\n\u201cWell, every economy works better if it has an incorruptible bank that allows everyone to store their monetary energy. It helps return rationality and long-term perspective. Hope is about believing that in a decade your life will be better than it is now.\u201d<\/span><\/p>\n<\/blockquote>\nBeautiful. Michael Saylor also believes that, for this to work, <\/span>\u201cWe have to give people property rights. And we\u2019ve got to give them the ability to store their economic energy in something that they have control of.<\/span><\/i>\u201d By that, he means Bitcoin and only Bitcoin.<\/span><\/p>\n<img decoding=\"async\" data-lazyloaded=\"1\" loading=\"lazy\" class=\"size-medium wp-image-467968 aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-460x267.png\" alt=\"BTCUSD price chart - TradingView\" width=\"460\" height=\"267\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-460x267.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-860x500.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-768x447.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-750x436.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7.png 1006w\" data-sizes=\"(max-width: 460px) 100vw, 460px\"\/><\/p>\n<noscript><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-467968 aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-460x267.png\" alt=\"BTCUSD price chart - TradingView\" width=\"460\" height=\"267\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-460x267.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-860x500.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-768x447.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7-750x436.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/07\/BTCUSD-7.png 1006w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"\/><\/noscript><\/p>\n<pre style=\"text-align: center\">BTC price chart on Coinbase | Source: BTC\/USD on <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener follow\" data-wpel-link=\"exclude\">TradingView.com<\/a><\/pre>\n<h2>Does Bitcoin\u2019s Volatility Affect MicroStrategy? How Does Their Playbook Look Like?<\/span><\/h2>\nHis company, MicroStrategy, famously was the first to put Bitcoin on their balance sheet. And then, they kept buying and buying. \u201c<\/span>We\u2019re basically converting our working capital from the weakest asset to the strongest asset,\u201d<\/span><\/i> Michale Saylor clarifies. Then, he gives you his strategy\u2019s play by play:\u00a0<\/span><\/p>\n<blockquote>\nThe way that we manage the volatility is, we make sure that we have enough Dollars to pay all of our bills for the next 12 months, based upon whatever volatility. So, we wouldn\u2019t really ever need to liquidate any Bitcoin unless we had like a one in a hundred event. Then, we might sell a little bit in order to pay our bills, but that hasn\u2019t happened before.\u201d<\/span><\/p>\n<\/blockquote>\nHe expects reasonable scenarios. Other currencies will print and print. There will only be 21 million bitcoin. Lots of businesses and people will integrate with the Bitcoin protocol. So, it\u2019s not that risky. In a long time frame, it\u2019s a \u201c<\/span>responsible business strategy.<\/span><\/i>\u201d It would be risky with a short time frame and a short-dated debt strategy.\u00a0\u00a0<\/span><\/p>\nIn short, MicroStrategy\u2019s financial strategy protects them from volatility. If in 10 years Bitcoin is down and not up, then and only then they\u2019ll be in trouble.<\/span><\/p>\n<h2>A Mining Council In An Open Network<\/span><\/h2>\nThe host, Bitcoin philosopher Criptobastardo, questions Michael Saylor with the basic objections that the Bitcoin community has with the Mining Council. Saylor answers:<\/span><\/p>\n<blockquote>\n\u201cThe council exists to gather information, to run surveys, and to educate. It\u2019s not a government body. I agree that a governing council probably wouldn\u2019t be the right thing. It\u2019s really just a voluntary and open asociation of Bitcoin miners to gather information, share best practices and educate.\u201d<\/span><\/p>\n<\/blockquote>\nAccording to him, someone has to respond to attacks. The Bitcoin community has to take control of the narrative, produce data, give info to decision-makers. \u201c<\/span>The people that need to know are Wallstreet investors, mainstream media journalists, and politicians<\/span><\/i>.\u201d These are powerful allies, and, \u201c<\/span>when they tell us that they\u2019re under pressure from their constituency to get an answer, we should do our best to give them the answer.<\/span><\/i>\u201d<\/span><\/p>\nRelated Reading | <a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/michael-saylor-sell-bitcoin-theory\/\" data-wpel-link=\"internal\">Can Bears Force Michael Saylor To Sell His Bitcoin? Analyst Shared Bullish Theory<\/a><\/strong><\/em><\/p>\n<h2>Is Michael Saylor Going To El Salvador?<\/span><\/h2>\nAccording to the MicroStrategy CEO, one would need 21st-century infrastructure to solve a current problem. That\u2019s what the Salvadoran government is trying to do with The Bitcoin Law. What will they get out of all of this? Well, according to Michael Saylor:<\/span><\/p>\n<blockquote>\n\u201cI think there are two benefits you get when you adop the bitcoin standard if you\u2019re a country. One benefit is the macroeconomic benefit. You end up with a treasury asset that is appreciating in value instead of depreciating in value. You put your entire economy on stronger bases.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\nThe El Salvador experiment is crucial to mankind. If everything goes as planned in there, the economic growth they\u2019ll have over the next few years will be unmatched. Michael Saylor continues and closes:<\/span><\/p>\n<blockquote>\n\u201cThe second benefit is a technology benefit. It\u2019s possible to use the Bitcoin protocol, or in this case Lightning. The combination of Lightning and Bitcoin transactions in order to provide digital currency to every citizen of the country. So, two thirds of El Salvador dont have a bank. If I want to create a bank, I want to give them a mobile phone and a digital wallet. And a digital currency, which is the Dollar. On top of a digital asset, which is Bitcoin.\u201d<\/span><\/p>\n<\/blockquote>\nThat sounds like a tank to us. <\/span><\/p>\n<pre style=\"text-align: center\"> Featured Image by <a href=\"https:\/\/pixabay.com\/users\/felixmittermeier-4397258\/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=2568381\" target=\"_blank\" rel=\"noopener nofollow noreferrer\" data-wpel-link=\"external\">FelixMittermeier<\/a> from <a href=\"https:\/\/pixabay.com\/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=2568381\" target=\"_blank\" rel=\"noopener nofollow noreferrer\" data-wpel-link=\"external\">Pixabay<\/a> - Charts by <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener follow\" data-wpel-link=\"exclude\">TradingView<\/a><\/pre>\n<\/div>\n \n <a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/michael-saylor-brings-the-thunder-to-venezuelan-bitcoin-only-podcast\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"If someone is doing his part, that\u2019s Michael Saylor. The MicroStrategy CEO proved that he\u2019s a stand-up guy by sharing the knowledge on a medium-sized podcast that\u2019s usually in Spanish. Saylor went in on the topics du jour and revealed never-before-heard secrets. What does he think about El Salvador? What\u2019s up with the infamous Mining […]<\/p>\n","protected":false},"author":1,"featured_media":872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[845,842,274,846,841,843,844],"class_list":{"0":"post-871","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-bitcoinonly","9":"tag-brings","10":"tag-michael","11":"tag-podcast","12":"tag-saylor","13":"tag-thunder","14":"tag-venezuelan"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=871"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/872"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}