Michael Saylor recently shared his 21 rules for Bitcoin. These are his personal insights and might not align with everyone’s perspective. Bitcoin has different aspects that resonate uniquely with each individual. We thought it would be fun to go through these rules, share our thoughts, and elaborate a bit more on them.
First, let’s give some background on Michael Saylor.
Michael Saylor is the former CEO and current Chairman of MicroStrategy, a company famously known for being the first to fully embrace Bitcoin. Originally, MicroStrategy, a business intelligence company, was involved in IT and Artificial Intelligence, but in 2020, they pivoted to a Bitcoin strategy, using all their resources to buy Bitcoin. They even took out loans and issued extra shares to acquire more Bitcoin.
Saylor himself owns around 15,000 Bitcoins and is the founder, owner, and major shareholder of MicroStrategy. The company currently holds over 210,000 Bitcoins, more than 1% of the total supply. Saylor is now a prominent speaker on Bitcoin, regularly appearing in mainstream financial media, alternative media, and Bitcoin-specific outlets.
Now, here are Michael Saylor’s 21 rules of Bitcoin:
Rule 1: Those Who Understand Bitcoin Buy Bitcoin
Those who understand Bitcoin buy Bitcoin; those who don’t, criticize it. If you truly understand Bitcoin, you can’t help but buy it. Critics often lack this understanding and view Bitcoin with skepticism.
Rule 2: Everyone is Against Bitcoin Before They Are For It
Everyone is against Bitcoin before they support it. Initially, people might dismiss Bitcoin, but as they dig deeper, they start to see its value and benefits.
Rule 3: You Grasp Bitcoin When You Know You’ll Never Fully Understand It
You know you grasp Bitcoin when you realize you’ll never fully understand it. There’s always more to learn about Bitcoin, whether it’s the technology, economics, or societal impacts.
Rule 4: Bitcoin is Powered by Chaos
Bitcoin thrives in chaos. The randomness and vast possibilities of private keys contribute to Bitcoin’s security. This chaos ensures its resilience and decentralization.
Rule 5: Bitcoin is the Only Game in the Casino Where We All Can Win
Bitcoin is the only game in the casino where everyone can win. Unlike traditional financial systems where the house always has an edge, Bitcoin offers a fair playing field for all participants.
Rule 6: Bitcoin Won’t Protect You if You Don’t Wear The Armor
Bitcoin won’t protect you if you don’t wear the armor. You need to be fully committed to Bitcoin to reap its protective benefits. Partial investment won’t shield you from financial instability.
Rule 7: Bitcoin is the Only Thing in the Universe That You Can Truly Own
Bitcoin is the only thing you can truly own. Unlike physical assets that can be seized or restricted, Bitcoin, secured by your private key, is genuinely yours.
Rule 8: Everyone Gets Bitcoin at the Price They Deserve
Everyone buys Bitcoin at the price they deserve. Your understanding and timing influence the price you pay for Bitcoin. The sooner you grasp its value, the better the price.
Rule 9: Only Buy Bitcoin with the Money You Can’t Afford To Lose
Buy Bitcoin with money you can’t afford to lose. Saylor flips this conventional wisdom, suggesting that Bitcoin should be a primary, not speculative, investment.
Rule 10: Tickets to Escape The Matrix are Priced in Bitcoin
Tickets to escape the Matrix are priced in Bitcoin. Bitcoin offers a way out of the traditional financial system, providing freedom and control over your wealth.
Rule 11: Bitcoin Insights are restricted to those who need to know.
This means that knowledge and insights about Bitcoin are limited to those who actually need it. People at the top of the Cantillon effect, such as politicians with significant power or leaders of major banks, don’t need to understand Bitcoin. These individuals already have it good and will continue to do so because they never lack money in fiat terms due to the Cantillon effect. Only those who need it will learn about Bitcoin and understand why it’s necessary.
Cantillon Effect Explained
Let’s explain the Cantillon effect here to clarify: in the current fiat system, it refers to those close to the money creation benefiting first. The newly created money benefits those near the source before inflation trickles down, allowing them to profit more than others. What’s interesting here is that often it’s said you need significant wealth to invest in Bitcoin. However, this rule shows that those who need to save and protect their value are the ones who understand and embrace Bitcoin quickly, unlike those who thrive in the current system.
Rule 12: All Your Models Will Be Destroyed
This doesn’t just apply to financial models but also political ones. All the models we currently know will break. Think of it like the “there is no spoon” analogy from The Matrix. Once you dive into Bitcoin, many other aspects of the world and financial system become clear, and old models collapse.
Rule 13: The Cure for the Economic Ill is the Orange Pill
Bitcoin is the cure for the current fiat system’s problems. This analogy to The Matrix shows that Bitcoin is the solution to the economic issues we face today.
Rule 14: Be for Bitcoin, Not Against Fiat
If Bitcoin is as good as we believe, there’s no need to fight the current system. Highlight Bitcoin’s benefits rather than attacking fiat currency.
Rule 15: Bitcoin is for Everyone
Bitcoin is accessible to everyone, including those you might see as political or personal adversaries. There’s no third party deciding who can or cannot use Bitcoin.
Rule 16: Learn to Think in Bitcoin
Stop thinking in fiat terms. When you start seeing Bitcoin as the standard, you’ll be more critical of your investments.
Rule 17: You Don’t Change Bitcoin; It Changes You
Bitcoin changes your perspective, your thinking, and your approach to life. You won’t change Bitcoin, but it will definitely change you.
Rule 18: Laser Eyes Protect You from Endless Lies
The meme of laser eyes symbolizes focus on Bitcoin. This focus helps you stay away from scams and misinformation.
Rule 19: Respect Bitcoin, or It Will Make a Clown Out of You
If you don’t respect Bitcoin, you risk making a fool of yourself. Many who tried to change or discredit Bitcoin have ended up looking foolish.
Rule 20: Do Not Sell Your Bitcoin
Don’t sell your Bitcoin, especially not to big players or governments. Keep it as a hedge against the fiat system.
Rule 21: Spread Bitcoin with Love
Spread the word about Bitcoin with love and patience. If you’ve talked to someone about Bitcoin, it means you care about them. Be kind and supportive as they learn.
