Michael Saylor, the MicroStrategy CEO-turned-king of bitcoin treasuries, called upon fellow business executives Wednesday to avoid the path of financial “serfdom” at his virtual WORLD.NOW bitcoin-themed conference.
In his solo address, Saylor detailed the cryptocurrency playbook that propelled his three-decade-old data firm to newfound relevance in less than a year.
Largely eschewing the near-mystical rhetoric that has punctuated his public crypto musings since August, Saylor focused on hardline business strategies, procedures and dollar-sense language in a calibrated appeal to corporations.
“There’s a macroeconomic wind blowing – big – it’s gonna impact $400 trillion of capital. That capital is sitting in fiat instruments that are being debased. That capital is going to want to convert into strong money,” said Saylor.
Saylor’s goal remained the fomenting of monetary revolution. For months now he’s tweet-preached the gospel of a harder, faster, stronger “monetary network,” namely bitcoin, which Saylor became enamored with at the height of COVID-19 shutdowns and a disciple of when fiat printers started going into overdrive.
While the notoriously brash CEO’s past declamations in support of bitcoin played to retail traders, his sermon at the conference targeted a far larger buy-side force: corporations. MicroStrategy was the first U.S. corporation to invest its dollarized treasury in bitcoin, and now boasting a 71,079 bitcoin reserve, Saylor seemed determined his company won’t be the last.
Accountants, lawyers and company executives joined Saylor’s effort. Their attempts to front-run corporate what-abouters detailed the practical whys and hows of BTC accumulation in, at times, excruciating detail. But even at its most pro-bitcoin moments, lawyers reminded viewers to be wary of OFAC sanctions violations.
MicroStrategy’s show could not be separated from the CEO at its ring master. Saylor’s anchoring hour set the tone for reams of…