Video Description
Michael Saylor was first in his class at MIT, but he didn't really understand money or monetary scarcity until he discovered Bitcoin. In 2020 when the Federal Reserve lowered interest rates to zero and said they weren't even thinking about raising them, he had $500 million in cash.
Currency was suddenly not scarce. Banks could print money. The Fed was going to print money. That shook him out of his lethargy and forced him to think really hard about what money actually is.
In this conversation we talk about time preference, why traders think in 4 days while he thinks in 4 years, why gold is actually inflating at 2% a year, and why engineered scarcity is something that never existed before Bitcoin. You can't really understand scarcity until you've seen actual engineered...
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This video from When Shift Happens provides insights into the latest cryptocurrency developments. Stay informed about BITCOIN market movements, technical analysis, and breaking news from trusted sources in the crypto community.
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