Michael J. Saylor, From Bitcoin Hero to Bitcoin Villain.
A former fierce opponent of Bitcoin, Michael J. Saylor created a huge surprise in August 2020 by endorsing Bitcoin with his company MicroStrategy.
As the months passed, Michael J. Saylor became a Bitcoin Hero praised by the entire Bitcoin community.
Month after month, Michael J. Saylor's absolute conviction in the success of the Bitcoin revolution commanded respect. Whatever happens, Michael J. Saylor continues to accumulate BTC with MicroStrategy:
At the time of writing, MicroStrategy holds over 252K BTC. This total will continue to grow in the weeks and months to come. Michael J. Saylor will no doubt continue his full Bitcoin strategy, tremendously benefiting his company MicroStrategy's share price.
Early on in his Bitcoin journey, Michael J. Saylor justified this community enthusiasm by propagating the true aims of the Bitcoin revolution during his many interviews. Case in point:
“Gold was the best idea in the 19th century, but gold is defective money... It's not possible to self-custody the gold; you can't take custody of a million dollars of your own gold”.
The Bitcoin community loves to praise certain people as role models. This goes somewhat against the very meaning of what Satoshi Nakamoto did after creating Bitcoin since he decided to disappear to leave all the light on Bitcoin and not on himself.
Now a Bitcoin Hero, Michael J. Saylor doesn't seem to have realized the importance of his role, or maybe he doesn't care after all. Perhaps he's simply pursuing his goals, and a monumental misunderstanding about him has occurred.
For several months now, Michael J. Saylor has been making a series of dubious statements about Bitcoin. I've talked about it here many times, but I was shocked when he played into the hands of financial giants like BlackRock by declaring that Bitcoin as an MoE was nothing more than a distraction.
BlackRock, Fidelity, and Co. would like the general public to believe this so they can take even more control over Bitcoin and integrate this liberating revolution within the current system as a mere SoV. In such a case, the Bitcoin revolution would no longer be liberating.
A recent interview with Michael J. Saylor revealed that profit in weak money was his ultimate goal for MicroStrategy's Bitcoin journey:
If you understand the why of. Bitcoin, you'll understand that there's no point in measuring your wealth in Bitcoin against weak money like the US dollar.
Yet Michael J. Saylor tells you that his goal is to make MicroStrategy a trillion-dollar company. There's something wrong here!
Bitcoin is a liberating revolution that should enable you to regain power over your wealth. Self-custody is the key. If you don't manage your private keys, you own nothing. BlackRock and the other financial giants want you to believe that you need to go through third parties to manage your exposure to Bitcoin.
Nothing could be further from the truth!
You'd expect Michael J. Saylor to go back to his early days in the Bitcoin world and say that self-custody is essential with Bitcoin. Well, that's not the case, and Michael J. Saylor is now defending another approach, that of Bitcoin marginalized within the current system as a simple SoV.
In a recent interview, Michael J. Saylor tells us that you don't need self-custody. Michael J. Saylor also points out that you need to have confidence in the government and its institutions. For Michael J. Saylor, you need to have no fear, because the government will never confiscate your custodial Bitcoin.
Finally, if you think self-custody is essential, Michael J. Saylor says you're a “paranoid crypto anarchist, and a profit-driven scammer”.
It's unbelievable that Michael J. Saylor could say such things, which leads me to believe that he's on his way to becoming a new Bitcoin Villain. Other Bitcoin Heroes in the past have gone on to fall from grace as a result of their behavior, and I think Michael J. Saylor is unfortunately heading in that direction.
The pseudo-Bitcoiners who continue to defend Michael J. Saylor tell you that given all the Bitcoin he owns, Michael J. Saylor can't risk defending self-custody and criticizing the government. It would expose him and put his strategy at risk.
I don't mind hearing this, but then it confirms that Michael J. Saylor has been defending his interests for several months now and above all his goal of making MicroStrategy a trillion-dollar company thanks to Bitcoin. In short, don't count on Michael J. Saylor to be a role model for the Bitcoin revolution.
Michael J. Saylor is a Trojan horse for the fiat system that has been thrown into the Bitcoin world to pave the way for the gradual takeover of BlackRock and the other financial giants.
I have already explained that MicroStrategy should do much more for the Bitcoin world. MicroStrategy is expected to support the development of the Lightning Network, but also the development of Bitcoin and projects around the Bitcoin system to foster the emergence of a circular economy centered on the Bitcoin system.
If Michael J. Saylor doesn't follow this path, it's because he has an interest in it. This interest seems obvious to me: Michael J. Saylor wants an ossification of the Bitcoin source code and all projects that could accelerate the use of Bitcoin as an everyday MoE fail.
Like Larry Fink, Michael J. Saylor wants Bitcoin to be a simple SoV integrated into the current system. In concrete terms, if you've understood the profound objectives of the Bitcoin revolution, then you'll understand that Michael J. Saylor is playing against us. He's been on the side of the fiat system for a very long time, and it's time to open our eyes.
You will always find Michael J. Saylor fans defending his investment strategy, telling you that he doesn't talk to the general public, but rather to governments and institutions. That's probably true, but in that case, he needs to stop being seen as a Bitcoin Hero, because the Bitcoin revolution isn't about being just another financial investment.
The objectives of the Bitcoin revolution are much more profound, and above all, we won't be able to achieve them by following the path Michael J. Saylor wants it to take.