Tristan Greene12 hours agoBitcoin offers ‘economic immortality,’ will reach $10M per coin — Michael SaylorSaylor’s comments came during a wide-reaching discussion with Bitcoin podcast host Robin Seyr.10902 Total views26 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksMichael Saylor, the outspoken co-founder and executive chairman of business intelligence company MicroStrategy, recently sounded off on the virtues of Bitcoin in an 84-minute podcast interview, claiming it’ll reach $10 million per coin and that the entire nation of China will get behind the cryptocurrency.Economic pseudoscience
In the above video’s intro, bites of Saylor making the bodacious price claim that “the cost of Bitcoin’s going to go up to 10 million dollars a coin” alongside other quotes given in the entrepreneur’s typical bombast:“What’s the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money is: we all have a short, brutal life.”
Aside from Saylor’s apparent belief that Bitcoin is the future of money, the main takeaway is that Bitcoin serves society as a sort of corporate immortality machine.
Saylor framed this idea with the question: “What if I told you I could make your company live forever?”
According to him, everything that’s come before Bitcoin, economically speaking, has been made obsolete with its introduction:“Economics is pseudoscience before Satoshi. It’s a quasi-religious liberal art, and it’s full of people’s opinions and prejudices and biases. […] All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments.”Corporate immortality
Ultimately, Saylor’s point revolved around the idea that companies investing in Bitcoin are positioned to last longer than those mired in the corporate malaise of old.
According to Saylor:“The average life expectancy of a corporation is something like 10 years. […] We’re talking about eliminating corporate mortality; we’re talking about stretching economic vitality easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million.”
Saylor appears to have figured out exactly how this would work as well. Aside from directly stating that he believed the Chinese people and government would embrace Bitcoin, he predicted that, sometime in the future, a single Bitcoin would be worth $10 million.Source:Michael Saylor
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