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.” Simply Bitcoin, a YouTube channel, has condensed Saylor’s ideas and added their own insightful criticism to create 10 fundamental rules. In this article, we will explore 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 simple: if you don’t understand Bitcoin, you will criticize it; if you do, you will buy it. Saylor argues that holding fiat money in the modern economy leads to a steady decrease in value due to inflation. Bitcoin, as a deflationary asset that appreciates over time, offers a solution. The main point 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 exposed the fragility of traditional economic institutions. Bitcoin’s decentralized nature makes it resilient against chaos and a safe haven for those seeking protection in challenging circumstances.
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 digital property rights secured by private keys, unlike physical goods subject to legal restrictions or physical confiscation.
Rule #4: Embrace Bitcoin with Confidence and Action
Saylor emphasizes that one’s approach to embracing the Bitcoin market determines the price they pay when entering it. Whether Bitcoin is priced at $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 succumbing to doubt.
Rule #5: Bitcoin Is Your Escape from the Fiat Matrix
Bitcoin, likened to “The Matrix,” exposes the flaws of fiat-based institutions. Saylor argues that distorted economic measures and central banks create false perceptions of control. Bitcoin offers financial freedom and self-sovereignty, providing an exit from an unfair system.
Rule #6: Bitcoin Insights Emerge in Times of Need
Insights about Bitcoin often arise during personal or financial crises. Many people discover Bitcoin as a lifeline when they realize the inefficiency 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 like taking the “orange pill,” a metaphor that applies to anyone, not just 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 curiosity or involvement in hedge funds.
Rule #8: Think in Bitcoin for Long-Term Value
Saylor questions the practice of measuring wealth in terms of fiat currency. Thinking in Bitcoin allows for a paradigm shift where the preservation of long-term value takes precedence over short-term benefits. 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 alternative coins. Maintaining dedication to Bitcoin ensures long-term growth and helps avoid distractions.
Rule #10: Spread Bitcoin with Patience and Compassion
Saylor encourages the Bitcoin community to greet newcomers with compassion, even when frustrations arise from a rigged financial system. Patience and empathy can turn skeptics into believers, while anger and disputes often push them away. The goal is to build a more resilient community that fosters adoption.
Just as Bitcoin has adapted, Saylor’s guidelines provide a roadmap for navigating the Bitcoin ecosystem. These ideas make a strong case for supporting Bitcoin, whether it’s through understanding its fundamentals, weathering turmoil, or promoting adoption.