MicroStrategy CEO Michael Saylor recently held a live keynote session with Jack Dorsey, CEO of Block Inc., in which the two executives discussed the principles behind Bitcoin and what its outlook is for the near future.
The session was part of an annual conference, World 2022, which focuses on how organizations may leverage MicroStrategy’s business intelligence services for enterprise analytics. The discussion also delved on the foundational principles behind Bitcoin and how it has helped bring forth an entirely new financial system that runs counter to the centralized principles of what currently exists.
“A lot of us probably started with Bitcoin out of curiosity, and it led us to a path more and more [about] how the world works, and what are some of the greatest solutions to the problems that we’re all facing and that we’re all seeing.” Dorsey shared.
According to Dorsey, he is “extremely passionate about” Bitcoin as a cryptocurrency that runs alongside the internet, which itself was founded based on open source movement from back in the early 90s.
“There is a way of building for the internet, building for the world, that is trusted, that is open, that is inclusive of anyone who wants to participate. We don’t typically see that in the corporate world that we tend to live in.” said the Block Inc. CEO.
Dorsey opines that Bitcoin opens the possibility of a financial system that’s open and inclusive, one that’s designed to be top-down, unlike the current financial sphere of influence, whether it be that of various governments running central banks, or what he calls “corporate financial systems.”
Dorsey went on to delve on how this key difference that Bitcoin brings to the fore enacts ways of “building for the world” that invites all of its participants to actively contribute to its growth and development.
“It gave me a lot of lessons and reminders of why the internet is so important, and what we can do to ensure that people coming into an intersection with this technology, that they trust it. That if they have an idea that will make it better, make it more accessible more secure and protect it even more, they can contribute.” Dorsey shared.
The interview and conference coincides with MicroStrategy’s most recent purchase of 660 Bitcoin for roughly $25 million, with the firm further boosting its balance sheet with $3.87 billion worth of BTC, bought at an average price of $30,200 per unit. This, notably, despite the downward trend for the firm’s own common stock, $MSTR. The business intelligence firm’s enterprise software business has already profited from its Bitcoin hold, with roughly $750 million made from price margins since it began integrating Bitcoin on its balance sheet.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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