The 21 Rules of Bitcoin: A Philosophical Journey In his BTC Prague 2024 keynote, Michael Saylor frames his conversation by highlighting Bitcoin as a profound intersection where science meets economics. He draws parallels to historical moments where scientific advancements dramatically shifted our understanding of the world, such as the Copernican Revolution in astronomy and the realization that diseases are not caused by demons but by germs in medicine. Saylor positions Bitcoin as a similarly transformative force, describing it as the world's first perfect money. He contrasts Bitcoin with the defective forms of money humanity has used throughout history, such as seashells, tobacco, glass beads, copper tokens, and paper currencies. He envisions a future where people will look back and chuckle at these primitive forms of money, marveling at how far humanity has come. Saylor explains that the concept of perfect money is a paradigm shift. He uses the analogy of falling through space to illustrate the idea of relativity, suggesting that everything around us is distorted until we adopt a new frame of reference. Just as Einstein's theory of relativity changed our understanding of physics, Satoshi Nakamoto's invention of Bitcoin introduces a new paradigm in economics and monetary thought. This paradigm shift, according to Saylor, will profoundly change our political systems, financial systems, and overall worldview. With this philosophical and economic foundation laid, Saylor transitions to presenting his "21 Rules of Bitcoin."

Bitcoin is Forever Money: A Comprehensive Analysis of Michael Saylor's Bitcoin Journey and Insights In the interview "Bitcoin is Forever Money" on the "What Bitcoin Did" podcast , Michael Saylor, Executive Chairman of MicroStrategy , offers profound insights into Bitcoin's role in the financial landscape and its transformative impact on his company and personal philosophy. This article expands on the key questions and answers from the interview, providing a thorough understanding of Bitcoin's potential and Saylor's journey with it. How did you get started with Bitcoin and what prompted this transition? We began focusing on business intelligence, founding MicroStrategy in 1989. The company went public in 1998 and saw significant success. However, by 2020, Saylor recognized the need for a new strategy to sustain growth and profitability, especially in light of the COVID-19 pandemic and economic upheavals. This led him to Bitcoin, which he viewed as a superior asset for treasury management. The Evolution of MicroStrategy The company launched various ventures, some of which were successful, like alarm.com, while others were not. Saylor acknowledged the challenges of maintaining growth and profitability in a highly competitive tech environment. The pandemic, coupled with zero interest rates and economic uncertainty, prompted Saylor to reassess MicroStrategy's financial strategy. He recognized the limitations of traditional investments and the need for a more robust asset to protect the company's treasury. The realization that holding cash or low-yield investments was detrimental to MicroStrategy's financial health led Saylor to explore alternatives. Bitcoin emerged as a compelling option due to its non-sovereign, hard money characteristics and its potential to outperform traditional assets in terms of value preservation and growth. In 2020, Saylor spearheaded MicroStrategy's investment in Bitcoin, purchasing $250 million worth of the cryptocurrency. This move was unprecedented for a publicly traded company and marked a historic shift in corporate treasury management.