“You NEED To Own Just 0.1 Bitcoin In 2025” (Uncut) 02-16-2025

“You NEED To Own Just 0.1 Bitcoin In 2025” | Michael Saylor’s Last WARNING

Bitcoin went from like 98,000 to like 89,000 back to 95,000 in the 24 hours we’re here. It’s very jittery, and that means people thought they were long, they were short, they sold it, they panic sold it, they panic bought it back. They’ve already lived through the equivalent of, you know, 100 quarters of anxiety in just a few days, right? And I’m not selling, so the point is I’m just the beneficiary of what’s happening, and I want it to be jittery, but you have to embrace it as the feature as opposed to as the bug.

And if you can start to think in Bitcoin and say, it’s a feature, it’s volatile, and that’s what gives me the edge over a person who is less committed. The big idea here is that in the year 2024, the SEC approved the first digital commodity in the history of the world, Bitcoin, and fair value accounting became optional. And in January of 2025, fair value accounting for that digital commodity became mandatory, and we expect Trump administration for Saab 121 to be repealed, and that means that every major bank in the world will be allowed to handle, to bank Bitcoin.

So what you have is a status quo for 80 years where a corporation could have all of their assets in real estate, in gold, in soybeans, in oil, or in treasuries. But of course, the only thing that looks liquid and fungible is treasuries, and it doesn’t beat the cost capital. And now Satoshi invents this new digital commodity.

It takes 15 years for people to decide that it isn’t tulip bulbs. It takes many years for the government to embrace it, and in the year 2025 is probably the first year where you could reasonably say the banks will probably handle it, the government’s not going to ban it, and it really is a commodity. And so now if you run a publicly traded company, you have a choice between Bitcoin or bonds.

And the bonds are minus 10% real yield, and the Bitcoin is plus 45% real yield for the past eight years. And, you know, you might not be sure that you’re going to keep getting plus 45% real yield, but I would submit to you that even if Bitcoin’s returns collapse to the S&P index, and if you said it’s just as good as the S&P, having a commodity that performs like the S&P is 10% better than using a bond. And so the real revolution in corporate finance for a CEO is you have the opportunity to recapitalize a company on a BTC standard instead of a USD standard.

And what that means physically is you go from being negatively polarized to capital to being positively polarized to capital. Instead of being repulsive to capital, you’re attractive. Wouldn’t you like to walk into a meetings and be attractive instead of being repulsive when you walk in the meeting? If your capital is returning more than the S&P 500, you’re creating shareholder value.

How much capital can you gather? If I’m a hedge fund and I say I return consistently twice the S&P 500, how much do you want to invest in me? The answer is how much money do you want? And if I go to you and I say I’m a hedge fund and I consistently underperform the S&P by 50%, how much capital do you want to invest in me? None. You’re either magnetically attracting the capital or you’re rejecting it. Okay, I got a hundred rich families.

They live in 47 countries and they all have this thought that they don’t really trust their banks and they don’t really trust their governments and they don’t trust the currency. And they’re okay in their country for now, but they might need to leave their country sometime in the next 30 years. And so they come together and they think, where should we put our money? Okay.

Like the big idea is we want to keep our money. And so, as I said, if God came down and said, I’ll run the bank for you and I’m going to issue you God coin, there’s going to be 21 million of them. And then you can telepathically move them between each other.

And I will custody God coin for the next million years for free for you. Then all these rich people would put their money in God’s bank and they would use the God coin and it would serve as a store of value for them because it’s better than gold is better than diamonds. It’s better than buying Picasso artworks.

It’s better than buying the local bonds, you know, in whatever local African country you live in, et cetera. But God hasn’t chosen to do that. So the next best thing is maybe they decide to hire a computer programmer and they get some cypherpunk or some engineer and they say, can you actually program a digital bank that does the same thing? So it’s not going to be God coin.

It’s going to be Bitcoin. And we want you to set it up so that we can buy, you know, so you’ve got 21 million of these units and we’re going to put our money in the Bitcoin bank. And that way we don’t trust any other bank and any other government.

It’s a network that we all join a secure monetary network. And then at some point, one of them says, well, I don’t think I trust you. And so none of the hundred families trust each other.

And maybe even if they did, they don’t trust their idiot grandsons that will come along in 60 years. So the question is, how do you actually create the Bitcoin network or the Bitcoin bank such that that it is stable? It’ll go on for hundreds of years when no one trusts anybody. What’s the solution? And the answer is we create a version of the software and we give it to everybody, everybody on the network gets to run the software and the software checks everybody else’s software and anybody that ends up lying gets kicked off the network.

So every single family runs a version of the bank and maybe every person in the family runs a version of the bank. And that’s how we get to a decentralized network. Pretty soon, everybody with money on the network is running the software.

Now, how do you secure it? Well, we need somehow to give it some anchor in the real world. So the software we run turns electricity into hashes and the hashes are used to randomize the transactions on the network. And if you end up with billions and trillions and hundreds of quadrillions of hashes, pretty soon nobody knows who’s going to build the next transaction block.

But what you do know is that it’s impossible for you to hack the thing with any sleight of hand. Some people would say the reason you want Bitcoin is because currency is being debased. And that’s definitely true if you live in Lebanon or you live in Venezuela or you live in Africa.

When the currency collapses in five years or 10 years, then obviously you want the Bitcoin. But there’s another reason the Bitcoin price goes up. And the other reason the price goes up is because it’s digital.

And that just means that at the end of the day, if I can move a billion dollars from New York to Tokyo and back again every hour, every second, every millisecond, there’s utility in that. Digital books, digital education is a million times faster, cheaper, lighter than the real thing. And so the digital form of capital is valuable.

Even if you ran the country perfectly and there was no inflation, but you could still program the money to move at the speed of light 24-7, 365 and put an AI that’s a billion times smarter than me or you in charge, there would still be utility for that. And then the third reason it’s going up is Bitcoin represents digital capital or capital in cyberspace. I give you a billion dollars and I tell you buy stuff in Russia.

And so you buy a bunch of stuff in Russia. And then what? The Russian government perfectly operates in every way. And then you stop the passage of time and nothing ever decays or grows old.

And then I guess it’s almost as good, but not digital. But the point is the passage of time continues. Governments don’t run efficiently.

The mayor may not do what you expected. Stuff rusts. There’s a hurricane.

There’s a fire. All of those things are entropy and chaos in the real world. So it’s my long winded way of saying Bitcoin is valuable because you escape the entropy and chaos of the real world.

Bitcoin is value because it’s a million times faster, smarter, cheaper because it’s digital. And Bitcoin is valuable because nobody can debase it. And you only have to believe one of those three things to think it’s going up forever.

But of course, I think all of those things, it’s just a better idea. And it’s going to continue to appreciate it in price with the passage of time, with the improvement of technology and with the debasement of the currency, all three of which we can expect. I think volatility can be harnessed.

I would say if you’re an investor, the right way if you look at it is it’s for long term capital preservation. So if you have a portfolio of capital, you don’t need for four years or more ideally for 10 years, then the portion of your capital that you would hold for 10 years and invest, you put some of that into Bitcoin, you’ll be fine. I don’t think you should put capital you need for four days, four weeks and four months.

You shouldn’t. It’s not a working capital thing. It’ll give you a coronary and a heart attack.

That doesn’t make sense. You know, I got two other points. One is it’s volatile because it’s the most useful thing in the world.

It’s because if you need $10 billion of credit on Saturday night to short the market, you can get it from the Bitcoin network. You can’t get it from any of your other assets. If you needed to sell something for a billion dollars in five minutes, you can get it from Bitcoin.

You cannot sell anything else on a Sunday morning in five minutes. If, on the other hand, you wanted to take a long position on Sunday morning after someone else took a short position Saturday night, you can do that with Bitcoin. You cannot do that with nearly any other asset.

So it is useful financially and that makes it volatile because anybody can express an economic opinion as hard as they want anywhere in the world and everything is linked to everything. And my last point, it’s going up 60% a year for the past eight years. If it was going up 60% a year in a perfect exponential with a beautiful curve that you drew with your artist’s hand, if that’s the way it happened, then people stupider than you, richer than you would have all the money.

If I’m telling you it’s going up 60% and if you do the work and you can understand why thermodynamically it is, like why is the water flowing downhill? Why does the waterfall look that way? Because there’s gravity and the gravity is pulling it downhill. Why are people running from insecure assets to secure assets? You know, why does capital flow from one place to another place? Why would you sell your Venezuelan currency and buy dollars? Was that random or is there a reason, right? If you understand the fundamental thermodynamic physical reason why the capital is flowing from 20th century assets to 21st century assets, from physical to digital, from financial to digital, if you understand that, then the best thing that could happen to you is for it to appreciate in a volatile fashion because everybody else will be scared away from it. The 60% a year is still 60% whether it’s volatile or not.

The difference is because it’s volatile, micro strategy is able to go from a billion dollar market cap to a hundred billion dollar market cap because people are afraid to do what we’re doing. If it wasn’t volatile, Bill Gates and Warren Buffett and Charlie Munger would have bought it all and I wouldn’t be sitting on stage today right now.