and this is an amazing equilibrium busting game changing polter jones and him saying and michael saylor micro strategy boosting moment in history well indeed and let's try to imagine what he's actually saying here with this bullishness on humanity is as you mentioned mike he became a very wealthy guy from the 1987 stock market crash where he predicted this was going to happen he sold all he sold out and then i guess shorted as well so he could see what was coming at the same time today he's appeared reappeared back on the market being very vocal seeing again what can't sustain itself and you can do one of 2 things and 1987 was the beginning of the plunge protection team and the mass intervention by the likes of the federal reserve bank and the u.s. treasury to make sure the billionaire class do not ever suffer a loss. and that ultimately is very bearish on humanity because you think that you know this class of people investors the capitalism our innovation and you know surviving and innovating through collapse you know the creative destruction that these things don't exist what you saying is like here

tell you in regards to the reasons for buying because this is obviously in the wake of micro strategy and michael saylor doing this is this the beginning now of the 4 trillion dollars worth of cash sitting on a corporate america's balance sheet being looked at and possibly other c.e.o.'s following suit with a fair missing out or a full low in the corporate space here yes it is but i would also highlight that this actually began a very long time ago which is that in 2013 and 14 fortress investment group became the 1st publicly traded company to hold big client on their balance sheet and i remember because i'm an accountant and i read financial statements and that was interesting to me because i was also a big corner. and then it's fun out in it became no regrets you know that. galaxy so it's it started a very long time ago but it did it at the time it did not gain acceptance and that's why fortress had to spin it out because the investors were not happy about the losses going on there because anyway fast forward to this year we have this current of virus hysteria or pandemic whatever we want to call it a

hundreds of billions of dollars and other companies are buying back their own stock micro strategy under michael saylor said you know what we're not going to buy back our own stock we're going to put our cash on our balance sheet into bitcoin so he broke from the pack because he realized he doesn't want to be like i.b.m. he doesn't want to waste all of his cash on stock buybacks and see the stock drop and this is unfortunately unlike bailing themselves out by buying their own stock again they're trying to this is sinking boat i.p.m. so they're bailing out their bad company by putting the water putting it back on the balance sheet and it's not working and of course that's kind of mirroring what the fed is doing it's essentially buying back the stock of america and hollowing out rather than investing and that is buying all the old bad debts of these same companies like i.b.m. it's putting it on to their balance sheet for no good like it's not going towards any manufacturing in the united states remember we're 10 months into this pandemic and we still we're still on even like past the fed is like a giant

your cast into big coin as a safe haven as as a reserve currency and something that michael saylor over at micro strategies got a lot of attention for i believe you actually made this move ahead of michael saylor correct actually you know we did it right after michael saylor announce it right before we were all big quitters in the company and we already had a few meetings about moving the company's reserves into big going and soon as we saw michael saylor announced we were like that was just so over the edge and we realized ok game on this is going to be a recent accumulation. we think that all corporations are eventually going to be acquiring bitcoin at some point and we just said hey we're going to do it 1st right so that was the kind of the spark that that got you guys off the fence and it's like i are going to put our portion of our reserves a debt because i you know i got to ask did i watch your videos on you tube every day right from to his restaurant where you're preparing middle eastern what's i love and you know i got to tell you you same debate doing very well these days of terms of keeping the c

hedge as many already have so following the $425000000.00 purchase by micro strategy as its treasury observe asset its c.e.o. michael saylor revealed that he personally owns about another $240000000.00. and shares the best part actually and analysts recently pointed out that micro strategy has earned $78000000.00 in the last 3.5 years from their business operations but micro study just earned about 100000000 in basically the last 2 months i'm just there between purchases a lot so think about that as a point gets increasingly accepted as a store of value it's going to outpace even gold them by us co-host christiane we saw our perk up when we saw how much money could be made with bitcoin thank you so much for that insight today. thank you. global call the 19 cases had a huge single day milestone this week reaching half a 1000000 for the 1st time on wednesday daily cases of the virus have risen nearly 25 percent in less than 2 weeks as europe and the americas continue to see this spike so with this in mind let's go ahead and take another look at the trends in the spread of the virus globally with our chief correspondent scien

the the writing that you've done got noticed by people like michael saylor who then put $425000000.00 of his treasury over their micro strategy into bitcoin as part of his overall learning curve into this space so this is now. at a time in history when that migrations of the hot alerts and the early adopters now to the corporate treasury has taken place and now other corporate treasuries are following suit. is this an act to add another element to our the discussion here is this an example of game fairy and if so were is that going i do think it's an example game theory because you know again if i come back to the economic principle i think about money as solving an inner subjective problem and that when when each incremental person is evaluating this decision it's effectively becoming easier because more people have come before them that they're looking at the equation when they're trying to solve an inner subjective problem which it which i guess the solution is money is that everyone's looking around and saying how my going to store value how we get your mediator series of transactions and they're looking at the properties