Saylor Fires Back at Calacanis' Bitcoin Obituary
Jason Calacanis, a venture capitalist, has written an obituary for Bitcoin, but Michael Saylor, MicroStrategy's CEO, is not buying it. In his scathing critique, Calacanis argued that Bitcoin is no longer relevant and lacks mass adoption potential.
'The dead cat continues to bounce,' wrote Calacanis as Bitcoin returned to the $80,000 level on Friday. He claimed that Bitcoin's user experience is intimidating, it doesn't handle transactions or smart contracts well, and has lost its appeal.
Saylor responded by pointing out that Bitcoin has grown significantly since 2011, reaching a valuation of over $1.6 trillion and becoming the world's most valuable digital asset.
'Digital Capital is the killer app,' Saylor said. 'Preserving wealth across generations is a bigger ambition than entertaining a dinner party.' He concluded with a statement that has become his trademark: 'The orange tie stays.'