Bitcoin Offers ‘Economic Immortality’, Reaches $10M Per Coin – Michael Saylor
Michael Saylor, founder of the business intelligence company MicroStrategy, recently heard on the virtues of Bitcoin – including that it reaches $ 10 million per coin and that the entire Chinese population is behind the cryptocurrency – in an 84-minute podcast interview.
Economic pseudoscience
In the intro to the video above, Saylor's bites flash alongside quotes from the entrepreneur's usual bombast as he makes a bid for “Bitcoin cost up to ten million dollars per coin.”
“What is the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect Money We all have short and cruel lives.
The main takeaway, Saylor's clear belief is that Bitcoin is the currency of the future, that Bitcoin will serve society as a corporate immortality machine.
Saylor came up with this idea, “What if I told you I could make your company last forever?” With the question.
According to him, what was before Bitcoin was, economically speaking, obsolete by its introduction.
“Economics is a pseudoscience before Satoshi. It is a religious liberal art and it is full of human opinions and prejudices. All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and paper and credit instruments.
Corporate immortality
Ultimately, Saylor's point revolves around the idea that companies that invest in bitcoin are more likely to last longer than those that are stuck in old corporate trouble.
By Saylor:
“The average lifespan of a corporation is about 10 years. … We're talking about eliminating corporate death, we're talking about easily extending economic strength by 10 times, maybe a hundred, maybe a million times.”
That's exactly how this works, and Syllor seems to have figured that out. In addition to directly stating that he believes that the Chinese people and government will accept Bitcoin, he also made a prediction that at some point in the future, Bitcoin will be worth $10 million.
Related: MicroStrategy Completes $800M Note Offering to Buy More Bitcoin
