MicroStrategy's Saylor Addresses NFT Craze on Bitcoin

Michael Saylor addressed the ongoing NFT craze on Bitcoin in an interview this morning with Patrick-Bet David on Episode 267 of the PBD Podcast.

Executive Chairman of MicroStrategy, @saylor, on the impact of Ordinals on Bitcoin mining and the power of inscriptions.

“What happened with Ordinals and NFTs is we crossed this chasm from what was a bearish scenario to a bullish scenario. If I was a miner I would be ecstatic.” pic.twitter.com/UDIGN5C08I

— Leonidas.og (@LeonidasNFT) May 9, 2023

🎤 Quotes from Saylor

• "There are a lot of implications...Long-term, the implication is there's going to be a lot of applications on the Bitcoin base layer."
• "I could also inscribe my last will and testament, and if my last will and testament is moving a billion dollars from me to you, how much is it worth to you to have that burned on the blockchain and cryptographically verified?"
• "This is the most valuable, most tamper-proof, immutable, secure transaction network in the world. I think the real significance of Ordinals, NFTs, and inscriptions is people used to take the transactions for granted, and they undervalued the Bitcoin mining network."
• "Long-term, what's really significant here is that people are going to see Bitcoin as the most secure cyber network or the most secure computer network in the world. And if I told you I'm going to burn a document and I want it to stay immutable for 100 years and I don't want any hostile corporation or nation-state or actor to be able to tamper with it or stop it, and in 100 years I want to prove that that's my document...You know Satoshi could sign a digital document, he could sign a message today and prove that he owns 30 billion dollars of Bitcoin and he could do it in a split second. That's the power of the Bitcoin network, and that has been underrealized, it's underestimated...[...] but ultimately the ethically sound, technically sound, economically sound future is for people to realize that Bitcoin is this immutable, incorruptible, non-sovereign computer network, and it's going to protect your money but it's also going to protect your integrity, and people are going to pay money for truth on that network."

🎤 Community Quotes

🧠 Learn More

• Memecoins Meet Bitcoin? (May 8, 2023)
• LT Ecosystem Guide - Bitcoin NFTs | What You Should Know (February 13, 2023)