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When asked: Bitcoin is not going to be a viable transaction mechanism even if it can still be a good store of value. Does it need to be a good transaction currency in order to reach some of the heights that folks such as yourself are talking about?
Michael Saylor: I think it is important to mention the lightning network. It is pretty clear that Bitcoin is the future of money and lightning is the future of payments. And if you are going to do payments and transactions at high speed, you are going to need a base layer that is ethically sound, economically sound, and technically sound and that is what Bitcoin is.
But then billions and billions of transactions are going to go on layer 2 like Lightning, which is a permissionless Ethical Protocol or they are going to move on Layer 3 like Cash app or Paypal or Apple Pay or Visa or Master Card. Those are securities or companies that are custodians which are moving payments back and forth.
It is pretty obvious to every Bitcoiner that payments are going to take place on Layer 2s and Layer 3s.
When asked: About holdings one huge thing that sets out in terms of the crypto winter that we are in right now versus the numbers of larger companies that have massive holdings, is there a certain price targeted at which you will start liquidating some of those holdings?
Michael Saylor: No, we are in it for the long term. Our strategy is to Buy Bitcoin and hold the Bitcoin. So, there is no price target. I expect to buy the Bitcoin at the local top forever. I expect Bitcoin go to the millions. So, we are very patient with it – the future of money.
The answer implies that it does not sound like Michael Saylor has wavered whatsoever.
What asked: Is the current crypto winter different at all? Is there any doubt in your mind when you are asked if there is any doubt in your mind when you watch the action we have seen over the past 3 weeks?
Michael Saylor: I think the entire crypto crash made a couple of things clear. That is Bitcoin provides a sound economic, technical, and ethical foundation for the cyber economy. Payments will move over the open Lightning protocol and via custodial Applications. Regulation of the crypto industry will be accelerated and encourage bitcoin adoption.
