Michael Saylor, a well-known Bitcoin advocate and the founder of MicroStrategy, has shared his views on Bitcoin in his famous “21 Rules of Bitcoin.” In a recent video, the YouTube channel Simply Bitcoin has condensed Saylor’s ideas and added their own insightful criticism to create 10 fundamental rules. Let’s delve into the key features of these guidelines and their implications for the future of Bitcoin.
Michael Saylor’s 10 Rules of Bitcoin
Rule #1: Understand BTC to Embrace Its Potential
The first rule is straightforward: if you don’t understand Bitcoin, you will condemn it; if you do, you will buy it. Saylor argues that holding fiat money in today’s economy leads to a gradual decrease in value due to inflation. Bitcoin, as a deflationary asset with value that increases over time, offers a solution. The main point here is to educate oneself; once you grasp its potential, there’s no turning back.
Rule #2: Bitcoin Thrives Amid Chaos and Uncertainty
Unlike other assets, Bitcoin thrives in times of uncertainty. Historical events such as wars, financial crises, and changes in administrations have demonstrated the fragility of traditional economic institutions. Because of its decentralized nature, Bitcoin is resilient against anarchy and serves as a safe haven for those seeking protection during challenging times.
Rule #3: Guarantees True Digital Ownership
One of the most exciting promises of Bitcoin is true ownership. Unlike real estate, stocks, or even gold, Bitcoin is not susceptible to devaluation or seizure by external forces. Bitcoin holders have complete digital property rights as long as they possess their private keys.
Rule #4: Embrace Bitcoin with Confidence and Action
Saylor emphasizes that one’s willingness to embrace the Bitcoin market determines the price they pay when entering it. Regardless of whether Bitcoin was worth $100 or $50,000, its value lies in understanding its long-term potential rather than regretting missed opportunities. This rule underscores the importance of taking action over harboring doubts.
Rule #5: Bitcoin Is Your Escape from the Fiat Matrix
Drawing parallels to “The Matrix,” Bitcoin exposes the flaws of fiat-based institutions. Saylor argues that distorted economic measures and centralized banks contribute to a false sense of control. Bitcoin offers financial freedom and self-sovereignty, providing a way out of this unfair system.
Rule #6: Bitcoin Insights Emerge in Times of Need
Insights about Bitcoin often arise during personal or financial crises. Many people turn to Bitcoin as a lifeline once they realize the inefficiencies of traditional methods. According to Saylor, the logic of Bitcoin becomes evident when the demand for a better system becomes undeniable.
Rule #7: Everybody’s Orange Pill
Adopting Bitcoin is akin to taking the “orange pill,” a metaphor that extends beyond the tech-savvy or financially conscious. Saylor highlights Bitcoin’s inclusiveness and its ability to empower individuals, companies, and even countries. Bitcoin is for anyone willing to learn, regardless of their level of interest or involvement in hedge funds.
Rule #8: Think in Bitcoin for Long-Term Value
Saylor questions the practice of measuring wealth in terms of currency. Thinking in Bitcoin allows for a paradigm shift where long-term value preservation takes precedence over short-term gains. He compares Bitcoin to a masterpiece—it is not meant to conform to us; we must adapt to it.
Rule #9: Stay Focused with Laser-Eye Dedication
Within the Bitcoin community, the “laser eyes” meme symbolizes unwavering dedication. Saylor advises against selling Bitcoin for low-yield government bonds or short-term altcoins. Remaining committed to Bitcoin ensures long-term growth and helps avoid the pitfalls of distractions.
Rule #10: Spread Bitcoin with Patience and Compassion
Saylor urges the Bitcoin community to welcome newcomers with compassion, even if frustrations arise from a rigged financial system. Patience and empathy can turn skeptics into believers, whereas anger and disputes tend to alienate them. The goal is to build a more resilient community that encourages adoption.
Just as Bitcoin has adapted and evolved, Saylor’s guidelines serve as a roadmap for navigating the Bitcoin ecosystem. These ideas make a compelling case for supporting Bitcoin, whether it’s understanding its fundamentals, weathering through turbulent times, or promoting widespread adoption.