financetom
Technology
financetom
/
Technology
/
Michael Saylor Uses LeBron James, Michael Jordan Sports Analogy To Explain Bitcoin To Dave Portnoy: 'Satoshi Gave Us A Game We Can All Win'
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Michael Saylor Uses LeBron James, Michael Jordan Sports Analogy To Explain Bitcoin To Dave Portnoy: 'Satoshi Gave Us A Game We Can All Win'
Dec 9, 2024 4:13 PM

Barstool Sports founder Dave Portnoy asked MicroStrategy Inc ( MSTR ) Chairman Michael Saylor in a recent interview to explain Bitcoin (CRYPTO: BTC) to him in a way that he can understand. This was after Portnoy recently said he sold his Bitcoin after the Winklevoss twins confused him back in 2020.

What Happened: When it comes to Bitcoin history and education, Saylor is one of the most popular names and one of the largest holders thanks to the balance sheet strategy of MicroStrategy ( MSTR ), the software company he co-founded.

"I want to know what I got wrong about Bitcoin," Portnoy asked Saylor during a recent interview.

Saylor shared several sports metaphors to help explain Bitcoin and its future to Portnoy.

"There's some games you can't play, but can watch," Saylor said.

Saylor said there are some games you can't play, like if a team you watch in person wins a bunch, the season tickets might get more expensive. Some games you can play, but they might be rigged like casino games being in favor of the house, Saylor added.

"Satoshi created a game that is rigged in favor of the individual. Satoshi gave us a game we can all win. Bitcoin is that game," Saylor said of the pseudonymous creator of Bitcoin.

Saylor said with Bitcoin you could be winning the game over time. He then dropped an analogy of playing alongside two of the greatest NBA players of all time.

"Wouldn't it be great if you had a basketball team, you had LeBron James, you had Michael Jordan, you had the digital version of them and they play forever. You can get on the court and play with them."

Saylor said that James and Jordan might score 100 points and you might score only two, but you're "getting rich together."  

"Everyone gets to play. You don't just win the game, you get wealthy while you win the game."

Read Also: Here’s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood’s Price Target Is Reached

Why It's Important: Portnoy recently said he bought $2 million worth of Bitcoin at $11,000 per coin, before selling the crypto after holding a discussion with Cameron and Tyler Winklevoss.

"I've been chasing it ever since. Dave is sad," Portnoy tweeted recently.

Asking Saylor the question and listening to the sports analogies could help Portnoy and others understand the game of cryptocurrency.

Saylor has a long-standing strategy of continuing to buy Bitcoin no matter the price. On Monday, it was revealed MicroStrategy ( MSTR ) purchased 21,550 Bitcoin for $2.1 billion in the first week of December.

MicroStrategy ( MSTR ) now owns 423,650 Bitcoin worth an estimated $42 billion.

"We have a simple strategy and our strategy is we just acquire Bitcoin, and we hold the Bitcoin," Saylor told Benzinga in a previous interview.

Saylor said investors focus on scarce and desirable investments.

"And of course we happen to think that Bitcoin is the highest-quality scarce desirable property."

Saylor told Benzinga that Bitcoin is the "highest-quality, best asset in the world" at the time.

"Everything else in the world is inferior to Bitcoin. So, if you give me $1 million and said what do you want to buy, I don't want to buy a sports tea, I don't want to buy a building, I don't want to buy a company … all I want to buy is Bitcoin."

Watch Benzinga's past interview with Saylor below.

Read Next:

Musk, Cuban, Or Saylor: Who’s The Biggest Crypto Influencer? Benzinga Readers Have An Overwhelming Favorite

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US decision on Nippon's bid for US Steel pushed back until after election
US decision on Nippon's bid for US Steel pushed back until after election
Sep 24, 2024
Sept 17 (Reuters) - The U.S. national security panel reviewing Nippon Steel's ( NISTF ) bid for U.S. Steel will let the companies refile their application for approval of the deal, a person familiar with the matter said, delaying a decision on the deal until after the presidential election. The move offers a ray of hope for the companies, whose...
Key Takeaways From Okta Analyst Ratings
Key Takeaways From Okta Analyst Ratings
Sep 24, 2024
Across the recent three months, 22 analysts have shared their insights on Okta ( OKTA ) , expressing a variety of opinions spanning from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish...
US finalizes $123 million chips award for Polar Semiconductor
US finalizes $123 million chips award for Polar Semiconductor
Sep 24, 2024
WASHINGTON, Sept 24 (Reuters) - The U.S. Commerce Department said on Tuesday it had finalized a $123 million grant for Polar Semiconductor to expand its plant in Minnesota, which would allow the company to nearly double its U.S. production capacity of power and sensor chips. The award, part of the Biden administration's $52.7 billion semiconductor manufacturing and research subsidy program,...
Amazon to 'invest like crazy' in Monday Night Hockey
Amazon to 'invest like crazy' in Monday Night Hockey
Sep 24, 2024
Hockey Hall of Famer Mark Messier will contribute to Amazon Prime's new Monday Night Hockey broadcasts in Canada this season. Messier joins Prime Monday Night Hockey as an analyst, and the Hall of Famer will share 10 captivating segments featuring stories from his legendary career to air throughout the season, the NHL said in a press release. Prime's lineup also...
Copyright 2023-2025 - www.financetom.com All Rights Reserved