Saylor Outlines 21 Bitcoin HODL Rules, Predicts $8 Million

At today's Prague btc conference, Michael Saylor, CEO of MicroStrategy, wowed attendees with a keynote in which he predicted a meteoric rise in the price of bitcoin, suggesting it could reach as much as $8 million per coin. . This statement was part of his broader presentation on the “21 Rules of HODLing bitcoin,” which outlines strategies for managing and sustaining investments in a highly volatile environment.

During his speech, Saylor articulated a philosophical and strategic framework for understanding and investing in btc. He positioned cryptocurrency not only as a financial asset but as a revolutionary tool capable of reshaping global financial paradigms, such as x.com/luke_broyles/status/1801558198362542325″ target=”_blank” rel=”noopener nofollow”>summarized by Luke Broyles via x.

Understanding and investing in bitcoin

#1 “Those who understand buy bitcoin, those who don't criticize bitcoin,” Saylor declared, setting the tone of his speech on the dichotomy between skeptics and defenders. He maintained that recognizing the potential of btc is akin to seeing a paradigm shift before it is fully realized.

#2 Reflecting on his initial dismissive stance in 2013, Saylor recounted how his view evolved as btc's resilience and potential became increasingly evident. Her personal journey from skepticism to advocacy underscores a common path among investors who often move from doubt to strong support.

#3 You will never finish learning about bitcoin,” said Saylor, emphasizing the complexity and constantly evolving nature of the cryptocurrency. He suggested that btc's intersection with global economics, technology, and regulatory frameworks makes it a perpetually relevant topic of study.

#4 Drawing historical parallels, Saylor highlighted moments of significant upheaval, such as World War II and the rise of communism in Europe, to illustrate the value of btc as a stable, non-geopolitical store of wealth. “Buy btc because entropy is guaranteed,” she stated, suggesting that bitcoin provides a safe haven in times of disorder.

#5 According to Saylor, btc offers an equal opportunity in contrast to traditional financial systems, which he considers inherently biased against the average person. “bitcoin is the only game in the casino that everyone can win,” he noted, framing it as an exceptionally fair and transparent financial instrument.

#6 He advised taking a proactive approach to investing, saying: “bitcoin won't protect you if you don't wear the armor.” This analogy was used to encourage substantial and thoughtful investment in bitcoin to safeguard the financial future.

#7 Saylor passionately argued that bitcoin allows for a form of ownership without the mediation of any third party: “The cryptographic keys in your head are your wealth.” This, he stated, is a radical change in the way assets have been controlled and protected throughout history.

#8 Reflecting on the volatility and growth trajectory, Saylor shared a personal anecdote about how he dumped btc at $892 to merit buying it at just $9,500 for the first time. “Everyone gets bitcoin at the price they deserve,” she said. “Then he said that when bitcoin costs $950,000, people will try to wait for it to drop to $700,000. Then btc would rise to $8,000,000,” Broyles reiterated.

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“Everyone gets bitcoins at the price they deserve!” twitter.com/saylor?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>@saylor about him twitter.com/hashtag/BTCPrague?src=hash&ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>#BTCPrague Main Scenario in one of its 21 Rules of twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>#bitcoin

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— btc Prague (@BTCPrague) twitter.com/BTCPrague/status/1801565948006011363?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>June 14, 2024

#9 Saylor advised investing only the money you can afford to lose, highlighting the conservative approach when adopting new financial technologies. This rule underlines the balance between visionary investment and financial prudence.

#10 Describing fiat currencies and traditional economic indicators as “the matrix,” Saylor championed bitcoin as a means to transcend conventional financial systems. He sees it not only as a technology but as a liberation from the restrictive narratives imposed by traditional economic structures.

#11 Saylor shared insights from personal experiences where the impact of bitcoin on the financial stability of his company was profound. “Without btc, MSTR would have failed,” he revealed, illustrating the direct impact of strategic bitcoin investments on corporate finances.

#12 Saylor projected a conservative 24% compound annual growth rate (CAGR) over the next decade, establishing a potential valuation benchmark and underscoring his confidence in btc's sustained growth. Notably, this would set a btc price of $600,000 by 2034.

#13 Saylor described the current economic system as flawed and saw btc as a cure for these inherent problems. “The cure to economic diseases is the orange pill,” she said, touting it as a revolutionary technology that offers a radical update to outdated economic practices.

#14 Instead of attacking the fading fiat system, Saylor urged taking a positive approach: “Be for bitcoin, not against fiat,” emphasizing the importance of building a new system rather than destructively opposing the old one.

#15 According to Saylor, “bitcoin is for everyone.” He projected that digital capital like btc could eventually account for half of all value in a yet-to-be-imagined future global economy, significantly increasing its price.

#16 “Learn to think about bitcoin,” Saylor advised, encouraging a shift in perspective to view future technologies and paradigms through the lens of btc, rather than trying to fit new innovations into old frameworks.

#17 “You don't change bitcoin, it changes you.” Saylor highlighted how btc challenges people to rethink their approach to money, value and investing on a global scale.

#18 “Laser eyes protect you from endless lies.” Saylor stressed the importance of keeping the focus on long-term potential, especially when your market price reaches points like $100,000 or $1 million. She envisioned a future where btc's market capitalization could rise to between $100 and $500 trillion.

#19 Warned: “Respect bitcoin or it will turn you into a clown.” This rule was a warning against underestimating the impact of btc and the foolishness of mocking an emerging financial technology that has substantial backing and proven resilience.

#20 “You don't sell your bitcoin.” Saylor likened selling btc to self-sabotage, suggesting it is a critical asset for long-term financial security, much like a life raft in the ocean or a fire in winter.

#21 Finally, Saylor concluded by saying, “Spread bitcoin with love.” She highlighted the importance of patience and kindness in promoting btc, especially towards those who initially criticize or disparage its benefits.

Through these 21 rules, Saylor provided a blueprint not only for understanding and investing in btc, but also for participating in a broader movement that could redefine the global economic order.

At the time of this publication, btc was trading at $67,102.

Featured image from Forbes, chart from TradingView.com