Michael Saylor Bitcoin- Bezos Didn't Sell Amazon when it was down 90%

Michael Saylor Bitcoin- Bezos Didn't Sell Amazon when it was down 90%

Bezos didn't sell Amazon when it was down 90%

Michael Saylor is optimistic that more and more big tech companies will adopt Bitcoin. He also discusses how accounting systems can keep up with the modern tech era. The following is the summary of his submission:

On the operational side, Bitcoin will soon be built into Google Pay, Apple Pay, and Facebook because these companies need to do that to compete with PayPal and Square Cash. This development will happen naturally because of the tech imperative.

But on the balance sheet side, the most important thing would be the accounting treatment. Now, accounting hasn't kept up with the rate of technological advances. Most of the rules surrounding accounting for digital assets were put in place before any public companies that owned them.

A year ago, you couldn't find any public companies that owned $10 million worth of digital assets. But now, they have billions of dollars worth of digital assets. The current accounting treatment is to treat digital assets as indefinite and tangible, which could be characterized as the most conservative accounting treatment. If you were to apply indefinite intangible accounting treatment to your apartment, that would mean that you start by booking into the price you paid for it.

In essence, accounting is probably one of the single biggest drivers that are ever placed at parity with other securities.

You have a much bigger and better chance of getting rich buying Bitcoin or gold. If you want to get rich, you can find some big tech dominating the digital network that everybody needs. This is what made the likes of Steve Jobs of Apple, Mark Zuckerberg of Facebook, and Bill Gates of Microsoft rich.

If Jeff Bezos had sold Amazon stock when it traded down 80% and did that five times, he wouldn't be the richest person in the world right now. All these companies have something in common: they are all big techs that replace the physical world with digital space.
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