Michael Saylor's speech: Bitcoin will reshape the global financial system, and countries should seize the opportunity of the digital capital revolution

On December 10, Michael Saylor delivered a keynote speech entitled "Digital Capital, Credit, Money and Banking" at the Bitcoin MENA conference, focusing on the transformative potential of Bitcoin in global finance. Saylor pointed out that US politicians, including Donald Trump, have recently expressed their approval of Bitcoin as a reserve asset for the treasury, and showed the growth data of the Bitcoin treasury since 2020. He described Bitcoin as "the world's digital value carrier", emphasizing its characteristics such as no time limit, no counterparty risk, no event risk, no confiscation risk, no holding fees, high portability, and final settlement in minutes. In his speech, he compared the performance of different asset classes: fiat currencies depreciated by -1.4%, inflation by 7.5%, equity returns by 12.1%, and bitcoin grew at a compounded annual growth rate of 34.2%.
Mr. Saylor warned of risks in the traditional system, such as currency devaluation, and positioned bitcoin as a hedge against volatility. "We will have more purchasing power than all the sellers in the market, and we will not have buying fatigue," he said firmly. "Our goal is to acquire every available bitcoin in the market," he said more bluntly. He concluded by calling on countries, particularly in the Middle East and North Africa, to adopt bitcoin as digital capital, credit and currency, predicting that the process of bitcoinisation will accelerate, ushering in an era of digital abundance.