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Michael Saylor’s 21 Rules for Bitcoin Call Bitcoin “Chaos” and an “Economic Virus”
In his speech at BTC Prague, MicroStrategy CEO Michael Saylor articulated a vision From Bitcoin as the world’s first perfect currency, a profound innovation with the potential to reshape economic and political systems globally. Drawing parallels to historical scientific revolutions, Saylor positioned Bitcoin as a disruptive economic force, ushering in a new era of financial insight.
Saylor’s presentation was more like a sermon than a keynote, reminiscent of a church pastor preaching salvation to his flock. Unlike a religious leader, Saylor’s sermon was focused on reaffirming and encouraging the audience to believe in Bitcoin, not in God, not in himself, not in his company, not in a cultural personality, not in anything else that the self-sovereignty and “perfection” of Bitcoin. One of his final lines regarding those who sell Bitcoin was:
“Satoshi forgive them; They don’t know what they’re doing.”
Saylor introduced a concept he called “21 Rules of Bitcoin.” While acknowledging the subjective nature of these rules, he framed them as guiding principles for understanding and embracing Bitcoin. According to Saylor, those who understand Bitcoin invariably choose to invest in it, while those who don’t understand it tend to criticize it. This dichotomy emphasizes a fundamental paradigm shift in which traditional perspectives on money and value are challenged.
The 21 Rules of Bitcoin by Michael Saylor
- Those who understand Bitcoin buy Bitcoin. Those who don’t criticize Bitcoin.
- Everyone is against Bitcoin even before they are in favor.
- You know you understand Bitcoin when you know you will never fully understand Bitcoin. You will never stop learning about Bitcoin.
- Bitcoin is fueled by chaos.
- Bitcoin is the only casino game where we can all win.
- Bitcoin won’t protect you if you don’t wear armor.
- Bitcoin is the only thing in the universe that you can truly own.
- Everyone gets Bitcoin at the price they deserve.
- Only buy Bitcoin with money you can’t afford to lose.
- Tickets to escape the matrix are priced in Bitcoin.
- Understanding of Bitcoin is limited to those who need to know.
- All your models will be destroyed.
- The cure for economic ills is the orange pill.
- Be pro-Bitcoin, not anti-fiat currency.
- Bitcoin is for everyone.
- Learn to think in Bitcoin.
- You don’t exchange Bitcoin; it changes you.
- Laser eyes protect you from endless lies.
- Respect Bitcoin, otherwise it will make you a clown.
- Don’t sell your Bitcoin.
- Spread Bitcoin with love.
One of Saylor’s key points was the intrinsic value of Bitcoin as “perfect money,” as opposed to historical and contemporary forms of currency such as shells, tobacco and fiat money. He emphasized that Bitcoin’s value lies not in asset appreciation but in realizing its absolute value in a distorted financial landscape. This shift in perspective, similar to a scientific revelation, forces people to break away from conventional thinking and embrace the innovative structure of Bitcoin. He reiterated that everyone gets Bitcoin at the price they deserve and seems happy to lose Bitcoin at $950.
“I got the price I deserved and started buying at $9,500, but okay, I’ll buy it at $95,000 and $950,000 and I’ll buy it at $8 million.”
Saylor also highlighted Bitcoin’s unique position as an “economic virus” that will over time permeate through layers of society and technology. He argued that a proper understanding of Bitcoin requires an appreciation of its long-term potential and its impact on future generations. This perspective requires continuous learning and adaptation, recognizing that Bitcoin’s influence will evolve with technological advances and social structures.
Addressing the volatility and inherent risk of traditional investments, Saylor presented Bitcoin as a hedge against chaos and entropy. He likened Bitcoin to a haven in a world of instability, drawing a historical analogy to the stability of Swiss banks during World War II. This perspective frames Bitcoin as a resilient asset capable of withstanding and benefiting from global economic turmoil.
“Is your goal to profit from the chaos or to stop it? You can’t stop entropy […] Bitcoin is the home of chaos: anyone who wants to play that game can continue to win.”
Saylor further stated that Bitcoin represents true ownership in a world where external entities control most resources. He emphasized decentralized and secure nature of Bitcoin, making it the first asset in human history that individuals can truly own without relying on intermediaries. This ownership principle is critical to understanding Bitcoin’s value proposition. He opposed the concept of only investing what you can afford to lose, advocating instead investing the money you can’t afford to lose in Bitcoin.
“When you say to only invest with money you can afford to lose you are making a moral equivalence to gambling with the odds stacked against you […] No one says to put the kids on the school bus just because I don’t need to come back.
In closing, Saylor highlighted the importance of spreading Bitcoin adoption through positive engagement rather than confrontation. She advocated for a compassionate approach to educating others about Bitcoin, noting that resistance often stems from a lack of understanding. By promoting Bitcoin with love rather than hate, supporters can promote broader acceptance and accelerate the global adoption of this revolutionary technology.
Saylor’s keynote at BTC Prague was a call to embrace the transformative power of Bitcoin. His “21 Rules of Bitcoin” is a roadmap for understanding and navigating this new economic paradigm, emphasizing continuous learning, resilience against chaos, and a compassionate approach to the spread of Bitcoin. benefits.