Michael Saylor's MASTERCLASS in Cryptocurrency Investing and the Future of BITCOIN | Conversations with Tom

Now, the [US dollar] is losing some percent of its purchasing power every year because it's being inflated away. And what's the number? Well, it was about 7% a year, and now it's like 20% a year. And 15-20% a year... The currency is weakening 1-2% per month. When it gets to be 40-50, it's collapsing. That's Argentina... or worse.

At the end of the day, it's not likely that the governments of all the world will just confiscate 90% of your crypto assets or your Bitcoin. But, in fact, it's a foregone conclusion that they're definitely going to confiscate 90% of your currency. It's happening at 1% a month or 2% a month right now. So, all you got to do is wait between 5 and 10 years and you're going to lose 90% of your money if it's in a currency or a currency derivative.

The road to serfdom is working exponentially harder for a currency growing exponentially weaker.

Well, Bitcoin's the best performing asset for the past decade. And it's 100x better than gold, and it's 10x better than equity portfolios. So, the volatility is the price you pay for the performance that you get. And, oftentimes, the best idea isn't the most comfortable investment idea.

Well, why is cash trash? Well, if the money supply is expanding at 7% a year, then the risk-free hurdle rate is 7%. If you don't generate more than 7% yield on your cash, then it's de-valuing.

Bitcoin is the strongest asset the human race has ever invented. It's like gold with none of the defects of gold.

You can liquidate a billion dollars in Bitcoin on the weekend in any currency any time. Try liquidating a billion-dollar building. It's a three-year process.

It's not that hard to see that this is a $25-50 trillion/year problem for anybody with assets on Earth. It's very rare that you find a technology [Bitcoin] that's the solution to every rich person's problem and every poor person's problem simultaneously.

I think engineering is the discipline of constructing mechanisms to channel energy.

Bitcoin is the first point in human history were engineering impinged on economics.

I think that there are some fundamental misnomers or understandings of the world that people miss, and the most pernicious one is the idea that inflation equals CPI.

Bitcoin is the greatest monetary network that the human race has ever developed. And it's certainly the dominant one right now, and it looks like it's going to be continue to be the dominant one for as long as we live.

I think probably the most valuable thing that I learned from MIT was to think from first principles and to be intellectually fearless.

I think of Bitcoin as like that shining city in cyberspace where billions of people will eventually want to live.