How Michael Saylor Prepares For Hyperbitcoinization
Michael Saylor, his fans call him the “Gigachad” has recently done the move that everyone thought would be impossible, He bought 37.000 Bitcoin for around $400.000 on behalf of the public listed company MicroStrategy, which he founded and represents as ceo.
Saylor saw the companies treasury melting like an icecube in the sun with the inflation rate picking up and devaluating all cash balances. So he looked for alternatives and found Bitcoin.
His move is anticipated to soon be engraved in history books as it is an important step forward for further adoption of bitcoin and its march towards hyperbitcoinization.
In a recent interview with John Vallis, Saylor concludes:
What’s my best contribution? My best contribution right now is to be a spokesman for the community as a public company officer to say this is legitimate and appropriate. I’m a hashfunction, the first guy spends five years to decide to put his live savings into bitcoin, the next person spends three months, I spend one or two months and then I drop $500 Million into it which is 20 years of corporate earnings. The next person looks at me and says oh I know Mike, I trust Mike and they read the press release.The proof-of-work is, I droped the 500 Million into the network and then I said why I did it. Do they need to read the book, do they need to spend five years, do they need to go down the rabbit hole?
730 years ago Marco Polo wrote in his diaries:
Now that I have told you in detail of the splendor of this city of the emperor’s, I shall proceed to tell you of the mint which he has in the same city, in the which he has his money coined and struck, as I shall relate to you. And in doing so I shall make manifest to you how it is that the great Lord may well be able to accomplish even much more than I have told you, or am going to tell you in this book. For, tell it how I might, you never would be satisfied that I was keeping within truth and reason!
The emperor’s mint then is in this same city of Cambaluc, and the way it is wrought is such that you might say he has the secret of alchemy in perfection, and you would be right. For he makes his money after this fashion. He makes them take of the bark of a certain tree, in fact of the mulberry tree, the leaves of which are the food of the silkworms, these trees being so numerous that the whole districts are full of them. What they take is a certain fine white bast or skin which lies between the wood of the tree and the thick outerbark, and this they make into something resembling sheets of paper, but black. When these sheets have been prepared they are cut up into pieces of different sizes.
All these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver; and on every piece a variety of officials, whose duty it is, have to write their names, and to put their seals. And when all is prepared duly, the chief officer deputed by the Khan smears the seal entrusted to him with vermilion, and impresses it on the paper, so that the form of the seal remains imprinted upon it in red; the money is then authentic. Anyone forging it would be punished with death. And the Khan causes every year to be made such a vast quantity of this money, which costs him nothing, that it must equal in amount all the treasure of the world.
With these pieces of paper, made as I have described, he causes all payments on his own account to be made; and he makes them to pass current universally over all his kingdoms and provinces and territories, and whithersoever his power and sovereignty extends. And nobody, however important he may think himself, dares to refuse them on pain of death. And indeed everybody takes them readily, for wheresoever a person may go throughout the great Khan’s dominions he shall find these pieces of paper current, and shall be able to transact all sales and purchases of goods by means of them just as well as if they were coins of pure gold.
Furthermore all merchants arriving from India or other countries, and bringing with them gold or silver or gems and pearls, are prohibited from selling to any one but the emperor. He has twelve experts chosen for this business, men of shrewdness and experience in such affairs; these appraise the articles, and the emperor then pays a liberal price for them in those pieces of paper. The merchants accept his price readily, for in the first place they would not get so good an one from anybody else, and secondly they are paid without any delay. And with this paper money they can buy what they like anywhere over the empire, while it is also vastly lighter to carry about on their journeys. . . . So he buys such a quantity of those precious things every year that his treasure is endless, while all the time the money he pays away costs him nothing at all. Moreover, several times in the year proclamation is made through the city that any one who may have gold or silver or gems or pearls, by taking them to the mint shall get a handsome price for them. And the owners are glad to do this, because they would find no other purchaser give so large a price. Thus the quantity they bring in is marvelous, though those who do not choose to do so may let it alone. Still, in this way, nearly all the valuables in the country come into the Khan’s possession.
When any of those pieces of paper are spoilt-not that they are so very flimsy neither-the owner carries them to the mint, and by paying three per cent on the value he gets new pieces in exchange. And if any baron, or any one else soever, hath need of gold or silver or gems or pearls, in order to make plate, or girdles, or the like, he goes to the mint and buys as much as he list, paying in this paper money.
Now that you have heard the ways and means whereby the great Khan may have, and in fact has, more treasure than all the kings in the world; and you know all about it and the reason why.
Already 700 years ago, counterfeit-fraud aka fractional reserve banking was a scam and it is a scam up until today. A small elite destroys monetary competition to establish a fake money. They become cantillionaires while the working population has to pay for it and bear the enormous cost in case of a hyperinflation.
Collective corruption, destruction and decline are the inevitable result of these sinister manipulations of the monetary system.
Marco Polo was observer, expolorer, seafarer and sailor. Michael Saylor is a techn entreprneur that shares this mission to explore uncharted waters, take risks and go where nobody has gone before to report his observations.
Unlike Marco, Michael had more than a diary report to present to the scientific community. He had choice to make that he knew, could influence the entire world,
And so he fucking did it.
Regardless of Saylors motivation, whether he pursued a philantrophic vision or simply followed his personal ambition, the numbers speak for themselves. The MicroStrategy stock ($MSTR) is turning green amid a bloody red dow jones. Alongside Square and Paypal which also went strategically long bitcoin.
With this move, Saylor took a last chance to stock up and stack sats at historic bitcoin prices below $15.000. With his portfolio of over 37.000 bitcoin he is joining the ranks of the ultra rich bitcoin OG’s such as the Winklevoss brothers, Mike Novogratz and others. We can only imagine what fortune this can become if bitcoin continues to appreciate in value the next ten years like it did for the past ten years.
Since Saylor already owns a lot of boats and houses and considering his age he might just donate or invest a lot of his bitcoin stash to charity. A sign that he has a certain interest in a better world is the fact that he redirected his domain hope.com to his newly established bitcoin education section on his company’s website.
Only time will tell if he will waste the money on fast horses and champagne or if it’s simply too much money to possibly spend it in a lifetime. Anyways, the boat party is already agreed upon as we could witness in his interview with John Vallis. He won’t celebrate alone so perhaps this is going to be quiet a fantastic bitcoin party.
Let’s hope that the internet veteran, domain broker, mobile wave surfer and gigachad will be right once again and that we don’t to hope for hyperbitcoinization but it will actually happen.