MicroStrategy CEO Michael Saylor recently held a live talk with Jack Dorsey, CEO of Block Inc., in which the two executives discussed the principles behind Bitcoin and what their prospects are for the near future.
The session was part of an annual conference, World 2022, which focuses on how organizations can leverage MicroStrategy’s business intelligence services for business analysis. The discussion also delved deeper into the fundamental principles behind Bitcoin and how it helped spawn an entirely new financial system that goes against the centralized principles of what currently exists.
“Many of us probably started Bitcoin out of curiosity, and that has led us further and further down the road [about] how the world works and what are some of the best solutions to the problems we all face and we are all seeing. .” Dorsey shared.
According to Dorsey, he is “extremely passionate” about Bitcoin as a cryptocurrency that runs alongside the Internet, which was founded on the back of the open source movement in the early 1990s.
“There’s a way to build for the Internet, build for the world, that’s credible, that’s open, that includes anyone who wants to participate. We don’t normally see that in the corporate world that we tend to live in.” said the CEO of Block Inc.
Dorsey believes Bitcoin opens up the possibility of an open and inclusive financial system designed to be top-down, as opposed to the current financial sphere of influence, whether it is multiple governments running central banks or what he calls “corporate”. financial systems”.
Dorsey continued to investigate how this fundamental difference that Bitcoin brings to the fore enacts ways to “build for the world” that invites all 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 make sure that people who come across this technology trust it. That if they have an idea that will make it better, make it more accessible, make it more secure and protect it even more, you can contribute.” Dorsey shared.
The interview and conference coincide with MicroStrategy’s most recent purchase of 660 Bitcoins for approximately $25 million, with the company further boosting its balance sheet with $3.87 billion in BTC, acquired at an average price of $30,200. per unit. This, in particular, despite the downward trend in the company’s own common stock, $MSTR. The business intelligence firm’s enterprise software business has already benefited from its control over Bitcoin, with around $750 million made in price margins since it began integrating Bitcoin onto its balance sheet.