coinculture.com
Michael Saylor, CEO and co-founder of MicroStrategy, recently praised the virtues of Bitcoin. He predicted that BTC will reach $10 million per coin and gain the backing of the entire nation of China during an 84-minute podcast interview.
Economic Pseudoscience
In the podcast’s introduction, Saylor emphasised “the cost of Bitcoin’s going to go up to ten million dollars a coin,” and contrasted Bitcoin with traditional money, calling BTC “economic immortality” while referring to other forms of money as leading to a “short, brutal life.” Saylor’s main argument is that Bitcoin functions as a form of corporate immortality.
He posed the question, “what if I told you I could make your company live forever?” Saylor asserts that Bitcoin has rendered previous economic systems obsolete, dismissing pre-Bitcoin economics as pseudoscience fraught with biases and outdated practices.
Corporate Immortality
Saylor elaborated on the idea that companies investing in Bitcoin are better positioned for longevity compared to those adhering to traditional corporate practices. He noted that the average lifespan of a corporation is roughly 10 years and suggested that Bitcoin could vastly extend this lifespan, potentially by factors of ten, a hundred, or even a million.
“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 believes that not only will corporations benefit from Bitcoin, but that the Chinese government and its people will also eventually adopt the cryptocurrency. He confidently predicted that, in the future, a single Bitcoin would be worth $10 million.
Source: Michael Saylor.