Michael Saylor talks about the "All in Bitcoin" decision: COVID-19 made me realize that the US dollar and gold are fake.

In an interview, Michael Sellor mentioned that the opportunity to stake, $500 million in corporate cash, was related to COVID-19, mentioning that both the dollar and gold have their systemic shortcomings, and that Bitcoin is a modified version that protects people's property. (Synopsis: Micro Strategy Michael Saylor: Apple should invest in BTC, which will motivate the stock price more than buying back Apple stock) (Background supplement: Microstrategy echoes "Bitcoin quantum attack", Michael Saylor: Unfounded worry, if it comes true, Google and Microsoft will fall first) Veteran technology entrepreneur Michael Saylor recently mentioned in an interview with Jordan B. Peterson, Initially desperate to bet on the connection between Bitcoin and COVID-19, he believed that "the dollar is likely to crash", so he exchanged all of MicroStrategy's (renamed Strategy this year) $500 million in cash into Bitcoin, which became a rare operation on Wall Street. And he also mentioned that although the current situation seems beautiful, it is actually a potential risk to overcome, and Strategy has made more efforts to achieve this than the outside seems. In the channel of well-known Canadian clinical psychologist Jordan B Peterson, Michael Saylor gave an interview for about 1 and a half hours, in this film titled "A Billionaire's Understanding of Surviving the Dollar Crash", Michael Saylor explained his perception of the collapse of the dollar system, and he also bluntly said on the program that the dollar will collapse in the future, and Bitcoin is the only correct solution. And why he was able to find this answer in advance, as well as the current understanding of Bitcoin and the monetary system, he said that these were established by COVID-19, and he found the truth by reading Bitcoin books at the time when everything collapsed. According to the economic indicator St. Louis Fed M2 data at the time, the dollar supply surged 27% in eight months in 2020, and from April to December of the same year, the S&P 500 rose 46%, and high-end valuations made it difficult to truly hedge, Bloomberg terminal data on the 4th showed that at that time, U.S. stock companies had more than $4 trillion in cash lying on their accounts, with an annualized interest rate of less than 1%, underperforming the official 2% inflation, and it was more difficult to cover real expenses such as rent and insurance, and all these economic realities became Michael Saylor's nutrient: It's not fighting COVID, it's fighting currency collapse. If you sit back and watch cash depreciate, the company is losing blood chronically. I saw Miami Beach at the time, I saw no cars on Collins Avenue, except for Amazon trucks, which made me angry... I see that we are taking the world back to the Stone Age. I have $500 million in assets and the interest goes down to zero, Powell gave a speech on TV and he said: 'We've brought interest rates down to zero, and I'm not even thinking about raising them before 2024.'" But my observation is that the assets I own are now non-profit Seeing all the podcasts from early cryptocurrency developers, I started looking for books, I read The Bitcoin Standard, and I was dragged down the rabbit hole...... I have come to the conclusion that the solution is a non-sovereign store of value, of which gold was once the best. As for why it is bitcoin and not gold, Michael Saylor explained that gold is difficult to transfer instantaneously, and is actually being mined, which is different from the situation where bitcoin is "mined less and less", and he even believes that the value of gold can not catch up enough to some extent. He mentioned that if you have 100% of the gold supply, but miners still produce 2% more gold per year, which means that the supply will double after 36 years, concluding that you only have a quarter of the gold supply in 30 years, and its relative scarcity will increase as you hold. Gold is essentially (relatively) inflationary. Gold, although it is called 'sound money' and it is the best currency in the Austrian school of economics, it is not the perfect currency. What if someone devised digital gold? If I, you know, now we go back to what engineers said, can you perfect gold? Predicting that the dollar will collapse And for the dollar, even in the Covid-19 era, it has not collapsed so far, but Michael Saylor boldly predicted that it is only a matter of time before the "dollar collapse", there are many signs that the dollar is already fake money, he mentioned that there is a problem with the way the government calculates inflation, but relies on this to decide whether to print money, which is What is inflation? Inflation is a vector. Everything in this room has a different inflation rate, and if I moved this room to Toronto, it would have a different inflation rate... The government wants to calculate inflation by building a basket of consumer goods markets, and then they play the trick of constantly changing what's in the basket, so they call it hedonic adjustment (hedonic adjustment) I create a basket of goods that are unlikely to rise in price when printing money, and then I put it into the basket. Finally, the only real inflation is in stocks, inflation in Amazon stock in March 2020... Michael Saylor mentioned that as a sovereign legal currency, there will be some defects that cannot be eliminated, and these defects have been seen in the past, and the ultimate essence is to print money in order to solve the problem, and printing money also makes inflation rise, inflation also drives the bubble of the economy, but the productivity of the people has not increased at all Saylor believes that the dollar lacks "thermodynamic soundness" or "closed system" system), which is fatal to engineering, he drew an analogy between its monetary theory and the laws of physics and argued that you can't break the laws, and that a traditional store of value like gold, because it can still be mined 2% a year, its supply increases by 2% a year, which dilutes its value as well. In contrast, Bitcoin's scarcity (21 million) and ease of manipulation make it a "non-sovereign store of value." Currencies in most political jurisdictions have collapsed every 30-40 years throughout human history, the dollar, as the winning currency of the 20th century, the best currency in the world, lost 99.9% of its value and is inflating at a rate of 7% per year .... Central banks constantly print money, they actually force interest rates down ... The COVID lockdown happened, Jerome Powell turned around and lowered interest rates, kept lowering them, and soon we saw interest rates drop from 250 basis points to zero.. In the summer of 2020, all the stocks recovered, and it was like, 'Oh, we had a crisis, but we solved it by bringing interest rates down to zero, we printed money, the stocks recovered.'" When interest rates drop to zero, the P/E ratio of any company that generates cash doubles, triples, and the capitalization rate of real estate doubles... ◦ The government printed money, we experienced hyperinflation, not in consumer products, not in the production of products, we experienced hyperinflation in financial assets" It is clear that operating companies are discriminated against, people who do practical things are discriminated against, and I want to be that...