Michael Saylor Reveals Why Storing Money In Banks Is a Mistake | PBD Podcast | Ep. 267 | Part 2

If people lose faith in banks, they lose faith in the currency. When they lose faith in the the currency, they lose faith in the government. When you lose faith in the bank, the currency, and the government, and someone says, 'What can you trust?' The answer is you can trust Bitcoin.

The strongest currency in the world is the dollar. That's not money. You're losing 99% of your wealth over the course of 90 years in the US dollar, maybe more. The only difference between the US dollar and the peso is where as it takes 20 years to lose your family's fortune in the peso, it takes about 90 years to lose your family's fortune in the dollar.

You shouldn't have any money in a bank. You're basically losing 7% of all your wealth every year in a good year if it's the dollar. You're losing 15% of your wealth in a not good year if it's the dollar. You're absolutely losing all your money over the course of a decade.

I think that the number one criteria to run an organization is humility combined with a bit of wisdom from life experience—but combined with an extraordinary amount of energy. You have to eat, sleep, and breathe the thing.

The official inflation rate in Argentina is 105% ... And if the inflation rate is running 100%, that means your money is losing half of its value every 12 months. That means that, within 10 years, you have nothing.

People that are comfortable—they're fat, dumb, and happy—in the United States are going to continue to reject new ideas, like crypto assets, like Bitcoin, because they don't have to— If I don't have to embrace a new idea, when I get to a certain age, I won't.

If the paper currency keeps crashing, then you can't own anything that's currency-related; you can't own a currency derivative. You need to own something that politicians can't print more of.

The small/midsize banks are at a massive disadvantage right now, because the government is showing that they're not going to bail out those those equity holders. So, there's a migration of deposits from the small banks to the big banks ... The small banks are going to struggle.

Any amount of money you want to keep the rest of your life, if you want to give it to your kids, if you want to actually retire on it, anything that's [an] investable asset, you would put it in Bitcoin. You would put it the strongest possible world currency.

The solution to the question was Bitcoin. And Warren Buffett and Charlie Munger can't allow themselves to understand that because they're so successful, they don't need to open their to embrace a new idea.

The only people that suffer with Bitcoin are people that trust their Bitcoin to the Sam Bankman-Fried's of the world ... The message of Bitcoin is you can't trust anybody.

The real significance of Ordinals and NFTs and inscriptions is people used to take the transactions for granted, and they undervalued the Bitcoin mining Network ... You have a migration of crypto development energy from the other cryptos to Bitcoin. It's a good thing, I think.

It used to be Americans thought they could trust American banks. Now, they're realizing that they can't trust American banks.