Michael Saylor Says Warren Buffett Misunderstands Bitcoin’s Revolutionary Potential

During a recent interview with Bitwise Invest's head of research Ryan Rasmussen, Strategy co-founder Michael Saylor described Bitcoin as a "paradigm shift," pushing back against criticism from legendary investor Warren Buffett and other skeptics. Saylor likened Bitcoin's significance to the early days of transformative technologies like electricity and radioactivity, stating that dismissing Bitcoin today is similar to underestimating electricity in 1890. "If you've never seen it, you can't blame someone in 1890 for not appreciating the potential of electricity," he said.

Saylor pointed out that traditional thinkers often fear innovation, not wanting to be "shocked" or "burned," just as early society hesitated to embrace electricity and fire. Yet, he noted, modern life—from New York City's power grid to planes and automobiles—depends on harnessing these forces. He argued that Bitcoin holds "ten times more energy content" than traditional capital assets and that those who can harness it could transform the cryptocurrency into "an engine of growth" for their corporations.

Warren Buffett, one of Bitcoin’s most vocal critics, famously called the cryptocurrency "rat poison squared" in 2018. Despite his massive $166 billion net worth, Buffett once claimed he wouldn't buy all existing Bitcoin for even a few dollars. Saylor's remarks suggest that such traditional views miss Bitcoin's potential to redefine finance and technology, much like past innovations that initially faced widespread skepticism.