TV Host SHOCKED by Michael Saylors Bitcoin Comments
Now, of course, every time someone hears one of these, they always wonder what the hell are. These people talking about, do they actually believe what theyre saying recently theres been a bunch of people have been asking. Did michael saylor really mean what he said when he said that you should mortgage your home to buy more bitcoin, but it wasnt just people on the internet? Yesterday he was on fox business and charles payne asked michael saylor on live national television. Hey michael, did you go too far? What exactly were you talking about here, heres, exactly what michael sailors response was, so you youve been seen as as the sort of pied piper of bitcoin, and some people are suggesting that maybe youve gone too far. That youve been irresponsible for, like, for instance, suggesting people mortgage their homes and businesses. I want to share sought a sound bite with you in the audience and then get your your feelings on that. And if you absolutely love the thing that youre that you dont want to sell it go mortgage your house and buy bitcoin with it and if youve got a business that you love, because your family works for the businesses in your family for 37 years. And you cant bear to sell it mortgage, it finance it and convert the proceeds into the hardest money on earth which is bitcoin. So there are people. I respect who say you go too far with those kind of proclamations.
What do you say? Well, you know the critics always cherry pick and, and they beat up on you at certain times. But if we step back uh, the argentine peso lost 99.5 percent of its value over 20 years, and the only way you could survive is by going into debt and converting into a different currency. Um the 30 year uh 30 year mortgage. You could get one for 275 basis points a year ago, right now. Its 580 basis points so so telling someone to get to take a 30 year mortgage when you could get one for half the current price for the rest of their life. Isnt bad financial advice, its a its a lost opportunity if you didnt get that cheap money, long term government subsidized thats a reasonably good thing. If you step back and look at the big picture from first principles like bitcoins up 52 on average per year. For the past two years for the last five years, its a 51 arr for the past 10 years, its 124 percent and thats 10x better than nasdaq over the past two years. So you know theres no statutes to critics. I think that the critics need to give people a solution to their problem, and i think if, if the inflation rate is higher than the interest rate, you would rather be a debtor than a creditor and a persons just got to take a long view. Look out over the decade and ask themselves you know: how do i want to be positioned financially and if you can do that, there are opportunities.
Now my big takeaway from this is, although theres plenty of bombastic things that are said and many headlines that you may read and be like wow. I didnt expect someone to say that, usually what occurs is that the people who have spent tons of time researching and doing their homework, who have invested millions, hundreds of millions, sometimes even billions of dollars into this asset theyve actually done the work. They do have very nuanced thoughtful and intelligent ideas that support their takeaway claims. Now, of course, thats not always true, and you should do your own research. There is risk and all sorts of different financial assets, but seeing something that catches peoples eye like hey, you should go mortgage, your home to buy bitcoin. That sounds kind of crazy, but once you hear michael saylor actually articulate exactly what he meant and why he thinks that and then to look back over the last two years and explain why it probably was a good idea. Then it becomes obvious that sometimes the internet, its really really good at catching all of the crazy stuff on the internet. You see things go viral, you see things taken out of context, but at the end of the day, if you sit down and you have a longer conversation with these individuals, you begin to understand theres a lot more substance that may appear at the surface.