Michael Saylor, founder and CEO of Microstrategy, joins the podcast to discuss economic calculation, inflation, and Bitcoin. He argues that traditional CPI metrics are flawed and irrelevant in today's digital economy, where information-rich products have near-zero variable costs. Saylor defines inflation as the rate of price appreciation in desired goods, services, or assets, emphasizing that for those seeking wealth preservation, the cost of capital, closely tied to money supply expansion, is the best measure. He highlights Bitcoin as a solution for companies to preserve capital, describing Microstrategy's strategy of converting cash reserves into Bitcoin to outpace currency devaluation. He also envisions mobile payment apps integrating Bitcoin to offer users tax-free savings accounts with high-interest yields.
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